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MCA to receive $53m makeover
Take a fly-through tour of the planned redevelopment to the Museum of Contemporary Art which is due to begin in June.
A "breathtaking" $15 million donation from a single Sydney family will partially fund a $53 million redevelopment of the Museum of Contemporary Art at Circular Quay.
The unprecedented commitment will come from Simon Mordant, MCA Foundation head and joint chief executive of investment bank Greenhill Caliburn Partners, and Mordant's wife, Catriona.
Mordant recently pocketed $65 million through the sale of Caliburn to US firm Greenhil & Co, the Australian Financial Review reported last month.
The Mordants' gift will be met by a joint $26 million commitment from the federal and NSW governments, as well as a $1 million donation from the City of Sydney and $7.45 million from other private donors, according to a statement on the MCA's website.
The new wing, to be named the Mordant Wing, will extend the size of the MCA by roughly two thirds.
Museum director Elizabeth Ann Macgregor said it would house a new National Centre for Creative Learning, more gallery space and extra commercial space to generate revenue.
"The importance of this contribution to our community, made possible by the enthusiasm and commitment of this unique funding partnership, is truly breathtaking," Ms Macgregor said.
The construction project, designed by Sam Marshall in partnership with the NSW Government Architect, will start in June and is expected to be completed in early 2012.