There’s a surge of building underway at nonprofit arts venues around Los Angeles, and that groundswell is encompassing major new projects as well as extensive expansions of existing institutions.
Not surprisingly, A significant number of LA500 honorees are deeply ingrained in these efforts. Some are highly visible as big donors whose names will be attached to the new museums or performance spaces. Others are working behind the scenes as board members.
One of the biggest new projects is the Academy Museum of Motion Pictures, with an estimated budget of $388 million. It’s slated to open in late 2019 on mid-Wilshire’s Museum Row. “Power Rangers” creator Haim Saban and wife Cheryl donated $50 million to the museum, which incorporates the old May Co. building into its campus. The building has been renamed the Saban Building.
A number of other LA500 entertainment executives are supporters; this includes Walt Disney Co. Chief Executive Robert Iger, who is chairman of the academy museum’s campaign committee. Trustees include NBCUniversal Vice Chairman Ron Meyer, Netflix Inc. Chief Content Officer Ted Sarandos, and Paramount Studios Chief Executive Jim Gianopulos.
East West Bank Chief Executive Dominic Ng also joined the board in
With the highest price tag of any museum project, the $1 billion Lucas Museum of Narrative Art is now under construction in Exposition Park. The futuristic facility next to the Natural History Museum of Los Angeles is expected to be completed in 2021.
In April, the Los Angeles County Museum of Art won county approval for a new $650 million home that will span Wilshire Boulevard. LACMA board members on the LA500 list include Annenberg Foundation Chief Executive Wallis Annenberg, Crescent Capital Group Managing Partner Mark Attanasio, Berggruen Institute Chairman Nicolas Berggruen, Ryan Seacrest Productions Inc. Principal Ryan Seacrest and Creative Artists Agency Partner Bryan Lourd.
Several arts institutions are getting a facelift, including Westwood’s Hammer Museum. In 2018, the Hammer announced a $180 million fundraising campaign for a renovation to increase gallery space by 60%. The project, which is expected to be completed in 2020, carries an $80 million construction price tag. Another $100 million is allocated for endowment and program support. Fundraising for the expansion, designed by LA500 architect Michael Maltzan, was led by a $30 million donation from Lynda and Stewart Resnick, vice chairwoman and chief executive, respectively, of Wonderful Co. Former television producer Marcy Carsey, chairwoman of the Hammer’s board, contributed $20 million.
Another project is ongoing at Music Center downtown where a $40 million renovation of the central plaza is expected to be completed by Labor Day. Music Center’s board, which includes Music Center President and LA500 member Rachel Moore, has not yet announced an oversight committee for the expansion.
A smaller new project, the $14.5 million Judith and Thomas Beckmen YOLA Center, is scheduled to break ground later this year. The planned home for the Los Angeles Philharmonic’s Youth Orchestra will be in a former branch office of Security Pacific Bank in Inglewood. LA500 members on the board of YOLA’s parent organization, LA Phil, include Annenberg and David Bohnett, founder of Baroda Ventures.
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