We learned in October that LA’s Academy of Motion Picture Sciences would be building its new museum inside the former May Company building on Miracle Mile, right next to LACMA. Now we hear that the project may soon be getting an architect. Our rumor mill has produced three shortlisted names: Morphosis, wHY Architecture, and spf:A.
The last on the list, spf:A, had developed LACMA’s plan for the building back when it was still going to contain the museum’s art galleries. So is this a chance for them to salvage that job? Meanwhile Morphosis gets a chance to try again on a major LA museum after losing the Broad Museum commission once the project moved from Beverly Hills to downtown. We’re sure wHY has a shot at some kind of redemption as well, we just don’t know what it is.
We’ve just learned via the LA Times that construction-happy LACMA has suspended all future projects until they’ve raised another $100 million. The news comes on the heels of a mixed finance review from Moody’s Investors Service, which downgraded its ratings outlook from “stable” to “negative.” The museum has so far raised about $320 million for its construction program, and its construction bonds kept their A2 rating. The suspension means an official halt to SPF:A Architects’ LACMA West Project, which includes the renovation of the 1939 May Company building on Wilshire and Fairfax into new gallery spaces. That project was originally scheduled for completion this year. It also puts a longer hold on renovation projects on LACMA’s east end, which were to be the third phase of LACMA’s campus transformation.