Thyssen-Bornemisza Museum to Expand to a Second Location in Madrid
Madrid’s Thyssen-Bornemisza Museum will expand to a second location to address overcrowding, with completion targeted for 2032, according to El País. The new site will be the 107,639-square-foot Ice and Automobile Palace in the Literary Quarter, a city-owned building vacant since 2007 that will undergo a €70 million ($80.8 million) renovation. It will display more than 360 works by 21st-century artists from the Thyssen-Bornemisza Foundation’s contemporary collection TBA21, created by Francesca Thyssen-Bornemisza, and will also house departments such as archives, storage, restoration, and activities. Spain’s Minister of Finance Arcadi España said the government will transfer the building to the Thyssen-Bornemisza Foundation, and Culture Minister Ernest Urtasun noted the museum now receives more than 1 million visitors annually. Francesca Thyssen-Bornemisza helped secure the deal by pledging a donation of 186 works valued at nearly €16 million ($18.5 million) and a long-term loan of 179 works worth €10 million ($11.5 million).
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This story was covered in Icons in Peril, Restitution Wars Escalate