Despite Financial Crisis, Museum Plans for Major New Building in Little Tokyo

DOWNTOWN LOS ANGELES – It has been a tough few months for the Museum of Contemporary Art.

Late last year, news erupted that the Downtown Los Angeles institution had hit a major financial crisis highlighted by increased spending and a plunging endowment. Disaster was narrowly averted in December, when museum officials accepted a $30 million bailout plan from philanthropist Eli Broad. The situation led to the resignation of MOCA Director Jeremy Strick, along with the six-month closing of its Geffen Contemporary annex in Little Tokyo. In January, the museum slashed its budget and reduced its staff by 20%.

Despite these troubles, museum officials are looking at a major expansion in Little Tokyo. The plans call for a three-story, 90,000-square-foot building that would rise on a parking lot adjacent to the Geffen. It would create 6,000 square feet of educational program space, 18,000 square feet of exhibition/storage space (where some items will be on display) and 66,000 square feet of pure storage space to help alleviate the crowded storage conditions at MOCA.

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