The new London Museum has been handed an extra $65 million to help get its construction to the finish line. The institution has now eclipsed its original budget of $445 million from 2019, with the projected final bill standing at $575 million.
The mayor of London, Sadiq Kahn, and the City of London Corporation have both put $32.5 million into the pot. To date, Kahn has injected $125 million into the project, while the City of London Corporation has parted with almost $300 million.
“We are steaming ahead to deliver a transformative, world-leading museum that will be worthy of this great capital,” Sharon Ament, director of the London Museum, said.
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A total of $130 million needs to be raised through private donations, sponsors, and philanthropy by the museum itself. It’s currently being built at the historic Spitalfields market in East London. Formally called the Museum of London and located next to the Barbican Centre at London Wall, its new home is being designed by Asif Kahn and Stanton Williams in partnership with architects Julian Harrap.
“The museum’s new fundraising commitment raises its overall target to £100 million [$130 million] with almost half of that—£45 million [$60 million]—having already been secured,” a project statement says. “The museum will explore green loan opportunities to achieve the remaining £20 million [$26 million] towards its £437 [$575 million] target.”
Around two million people a year after expected to walk through the museum’s doors when it opens in 2026. Its collection boasts over seven million objects, including one of the largest archaeological archives in the world. Exhibitions at the new complex will focus on milestones in London’s history, spanning the Roman era to the conception of celebrity culture and the digital age.
Over the summer the museum changed its name to the London Museum as part of a rebrand that included redesigning its logo, which is now a white clay pigeon that has emptied its bowels of golden excrement. “A good logo gets people talking,” Ament said. “Our pigeon, cast from London clay, and its splat, rendered in glitter, prompts people to reconsider London.”
Contractors building the new museum were recently shocked to discover a huge and beautifully constructed network of subterranean brick vaults under the site. The discovery added to the ambitious project’s bulging budget.