The board also capped the total cost for construction at $198 million, and also has set a goal of $87 million to endow the wing after it is built. Of this $285 million total, an estimated $100 million has already been raised.
The move by the board does not absolutely commit the Art Institute to building the wing, but rather to completion of plans by Italian architect Renzo Piano, who is best known for designing the Centre Pompidou in Paris and the terminal building of the new Kansai International Airport in Osaka. In the United States, Piano designed the Menil Collection museum in Houston.
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