The new 40-story museum, designed by Frank O. Gehry, would be located on three piers at the foot of Wall Street. The city intends to provide the land and approximately 10 percent of the construction costs, the New York Times reported Tuesday. The design, like that of the museum in Bilbao, would consist of glass, stone, and titanium curving into the sky in a freeform, organic style. Before construction can begin, a major fund-raising campaign and comprehensive environmental and zoning review must be completed. The fund-raising and approval process is expected to take about two years.
Construction is projected to take another three years.
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