Museum of Arts and Design seals Lollipop purchase.

The Museum of Arts and Design announced that it has completed the purchase of the building at Two Columbus Circle and will commence work immediately to transform it into a new home for the Museum.

MAD was granted the right to acquire the property from the City for $17 million following an open competition in which both cultural institutions and private companies submitted proposals for the site's redevelopment.

MAD concurrently announced that it has raised more than $48 mil lion for the capital campaign it launched three years ago, which represents 96% of its original goal of $50 million.

The Museum has subsequently increased its campaign goal to $65 million to support facility enhancements and its endowment for programming, acquisitions and operations.

"I am happy to announce that we are moving forward immediately in creating a new home that will provide exciting programs for our growing audiences of students, families, artists and visitors to the city," said Jerry Chazen, chair of the Museum's expansion committee and capital campaign.

"The expanded museum will bring a wonderful new dimension of life to the neighborhood and the city."

"The $48 million we have raised thus far--of which the public is the ultimate beneficiary--is a resounding endorsement of the Museum's historic achievements and our plans for the future," said Barbara Tober, chairman of the Museum's board of governors. "With nearly triple the space of our current facility, we look forward to increased opportunities to serve our community by growing the Museum's public and educational facilities and by mounting more special exhibitions exploring the field of contemporary arts and design."

Working in collaboration with architect Brad Cloepfil, of Allied Works Architecture, the Museum has developed a design that will enable the institution to meet the growing public demand for its exhibitions and educational programming and to display its rapidly expanding permanent collection.

The design will also weave the Museum into the social and cultural fabric of the revived Columbus Circle and surrounding neighborhoods. Since its opening in 1964, the current building has sat tenantless or underused for the majority of its existence, and has been vacant and derelict since 1998.

The new design incorporates new galleries for the Museum's permanent collection and special exhibitions, artist studios and classrooms, public spaces and service areas, and museum offices and art storage.

It will also bring natural light into the nearly windowless building, opening it up to Columbus Circle and Central Park. The design includes a new facade that features textured terracotta panels and transparent fritted glass.

"The new building will provide incredible new spaces for our visitors to experience the work of the artists represented in our permanent collection and the wide range of special exhibitions that we present each year," said Holly Hotchner, director of the Museum of Arts and Design.

"The design also makes the building an exciting and valuable addition to the neighborhood by literally opening it up to its surroundings and creating beautiful public spaces and classrooms." MAD voluntarily implemented an extensive public review process of its plans after it was awarded the rights to develop the site.

The Museum plans won the approval of Manhattan Community Board 5, New York City Planning Commission, New York City Council and the Manhattan Borough Board.