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Wednesday, November 29, 2000
NYC may help build huge museum
$678 million Solomon R. Guggenheim Museum could open in 5 years
Associated Press
NEW YORK - City officials have said they would donate land and money toward the building of a proposed new Solomon R. Guggenheim Museum in lower Manhattan.
The new 40-story museum, designed by Frank O. Gehry, would be located on three piers at the foot of Wall Street. It is expected to cost $678 million.
The city intends to provide the land and approximately 10 percent of the construction costs, the New York Times reported Tuesday.
The design, like that of the museum in Bilbao, would consist of glass, stone, and titanium curving into the sky in a freeform, organic style.
Before construction can begin, a major fund-raising campaign and comprehensive environmental and zoning review must be completed. The fund-raising and approval process is expected to take about two years. Construction is projected to take another three years.
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