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Billionaire Unveils Design Of Downtown LA Museum

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Once rumored to be interested in buying the Los Angeles Times, philanthropist Eli Broad has his name all over Los Angeles with donations to schools, medical research and art collections.

Once rumored to be interested in buying the Los Angeles Times, philanthropist Eli Broad has his name all over Los Angeles with donations to schools, medical research and art collections.

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LOS ANGELES (AP) — Billionaire Eli Broad’s planned downtown contemporary art museum, which will showcase his 2,000-piece collection that includes works by Salvador Dali and Joan Miro, is a three-story, $130 million honeycomb structure that will be known simply as Broad.

The developer-turned-philanthropist unveils the architectural design and discusses plans for the Grand Avenue museum during a late morning Thursday news conference at the nearby Walt Disney Concert Hall. A committee of state and local officials voted earlier to let him lease county-owned land.

Broad says he hopes the museum — formally called The Broad Art Foundation — will help realize his vision of downtown L.A. as a bustling urban hive of culture and street life. It will have 35,000 square feet of gallery space.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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