After months of speculation and anxious anticipation by Contemporary Art patrons, Eli and Edythe Broad have chosen Downtown L.A.’s Grand Avenue as the location for “the Broad Collection”, the permanent home of their aquisitions representing over 50 years of Contemporary Art.
The new location affirms Broad’s vision for creating a thriving cultural center in Downtown Los Angeles. The site will be flanked by the Disney Concert Hall and the Museum of Contemporary Art (MOCA).
How will the addition of another Contemporary Art museum be received by Angelenos? I think the timing is brilliant. While the current economy has struck a significant blow to philanthropic institutional giving, the new museum’s opening will likely coincide with economic recovery over time. Until then there is a ready made population that will benefit from the museum’s new locale. Given the popularity of the monthly Downtown Art Walk, the area cultivated a thriving gallery community over the last 6 years. The Art Walk’s success has fueled an eager audience of art patrons sponsoring the next generation of contemporary art luminaries. I think the synergies between the institutional movement and the gallery community will continue to develop the cultural vitality of the area.