|Sandow Birk, The Los County Museum on Fire (After Ed Ruscha), 2022|
LACMA reports it has raised a total of $700 million for its Peter Zumthor-designed David Geffen Galleries. The projected cost is $750 million.
Though that may sound like they're approaching the finish line, the story is more complicated. Fund raising has been slow the past few years, barely outpacing rising costs. By Mar. 2019 the museum had raised $560 million toward a goal that was then put at $650 million.
At last report, in early Nov. 2021, they had raised $679 million, so that's about $21 million in the past year. At that rate it would take over two more years to reach $750 million, a total that some skeptics have thought to be optimistic. The latest inflation figures don't help any.
Completion of the building is projected for late 2024.
(For more on Sandow Birk's update of Ruscha's 1966 painting, see Birk's site.)