The Museum of Modern Art and P.S. 1 Contemporary Art Center have signed an agreement to merge. The two institutions' union is subject to the approval of both boards of trustees, as well as the City of New York. These approvals are expected to happen, but only after each party has completed satisfactory due diligence reviews of the project.
The merge will allow P.S. 1 access to MoMA's art collection, and MoMA will expand its contemporary initiatives through its affiliation with P.S. 1. Both institutions expect that their audiences will be broadened when they unite.
Glen D. Lowry, director of MoMA, said, "Although P.S. 1 will become part of MoMA, it will maintain its artistic independence, and hence its unique position and character as the preeminent institution of its kind in the United States."
"This is an exciting and logical partnership because of our shared programmatic goals, interests, and commitment to contemporary art," said Alana Heiss, director of P.S. 1. The merger is beneficial to Heiss as an individual, as well, since she will become deputy director of MoMA in addition to retaining her post at P.S. 1.
The City of New York is a partner in the merger, as well. It is expected to provide support for the venture, and to approve a long-term lease of its properties. MoMA plans to build an art center in Long Island City, Queens, which will include storage space, workshops, and offices. The project will break ground in 2001.
The P.S. 1 Contemporary Art Center is located in Long Island City. It underwent an $8.5 million renovation two years ago. MoMA's main branch is located in Manhattan, on 53rd Street between Fifth and Sixth avenues.