March 6, 2003
by Sarah Foster
The Board of Trustees of the Art Institute of Chicago have announced the approval of the construction of a new $198 million wing, designed by Renzo Piano. The projected ground breaking for the new wing is scheduled for 2004. The next phase, the completion of construction documents, will take approximately 12 to 14 months. The Board agreed that the museum will raise endowment funds totalling $87 million, to support the operations of the new wing, bringing the total requirement to $285 million. To date, the Institute has received $100 million from private sources. A formal fundraising campaign will be announced at a later date. The Art Institute also has announced the selection of renowned landscape architect Kathryn Gustafson – to design the garden and park on the Art Institute’s site around the new wing.