Art News

Financing in place for the Städel extension wing and refurbishment of the old building

FRANKFURT.- A month before the opening of the Städel extension wing for contemporary art, and after the reopening of the refurbished old building in late 2011, the financing of the entire project is now in place. The “Städelscher Museums-Verein” added the finishing touches today when it handed over a check for three million euros. One half (around 26 million euros) of the approx. 52-million euro project (34 million for the extension, 18 million for refurbishing the old building) was financed through the unprecedented support of companies, foundations, and by private donations by members of the public, and the other matched by public funding. As part of the “Frankfurt baut das neue Städel“ (Frankfurt is building the new Städel) campaign launched by the Museum, over the last two-and-a-half years there were numerous events in support of the largest extension (in terms of construction and content) in the