Luxury goods magnate François Pinault has revealed his plans for his Paris Foundation, slated to open in early 2019, The Art Newspaper reports. The museum will be designed by Tadao Ando (also responsible for the foundation’s two venues in Venice, Punta della Dogana and Palazzo Grassi) and will draw on the circular architecture of the landmark eighteenth-century building of the Bourse du Commerce. This €108m project (approx. £95m) will transform the interior of the building to provide for 3000 sqm of exhibition space, a 300-seat auditorium and a black-box theatre, fit into a cylindric structure.
The new museum, situated between the Louvre and Pompidou Centre and for which a 50-year lease has been granted, will be committed solely to presenting contemporary art, says deputy director of Collection Pinault-Paris, Martin Béthenod, and unlike the city’s Vuitton Foundation, will not be relying on any state support for its funding.
28 June 2017