LOS ANGELES (CBSLA.com) — A topping out ceremony was held Tuesday morning for a new contemporary art museum in downtown Los Angeles.

City officials and workers signed the ceremonial beam for The Broad museum on the corner of Grand Avenue and 2nd Street before a crane lifted it to the top of the structure.

The museum is being built by philanthropists Eli and Edythe Broad as a gift to the city of Los Angeles. It that will house art work from more than 200 artists such as Jeff Koons, Roy Lichtenstein and Cindy Sherman.

The museum will also serve as the headquarters of The Broad Art Foundation.

The 120,000-square foot, three level museum is expected to open in early 2014.

It will feature 50,000 square feet of gallery space, a lecture hall, lobby and gift shop.

“The project will also include a state-of-the-art archive and study space that will be available to scholars and curators who want to research works in the collection and borrow artworks for their institutions through The Broad Art Foundation’s worldwide lending program,” Karen Denne of the Foundation said.


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