How Much Did It Cost to Build the Philadelphia Museum of Art?

Art|Art Museum

The Philadelphia Museum of Art is a world-renowned institution that has served as a cultural focal point for the city since its opening in 1928. With over 240,000 works of art spanning centuries, the museum is one of the largest art institutions in the United States. It is also one of the most expensive buildings ever constructed in Philadelphia, with an estimated cost of $18 million to build.

The museum’s construction was funded largely by two major sources: private donations and tax revenue. The majority of the funding came from the city’s wealthy industrialists who saw the museum as a way to improve Philadelphia’s cultural landscape. The industrialists contributed over $11 million to fund its construction, which was matched by contributions from local citizens and businesses.

In addition to these donations, the city also provided tax revenue to help pay for the construction costs. This money was generated through taxes on entertainment venues such as theaters, sports arenas and concert halls. The city also imposed a special tax on real estate transactions to help cover some of the museum’s costs.

The total cost for constructing the Philadelphia Museum of Art was more than double its original estimate when it first broke ground in 1926. In addition to building costs, there were other expenses associated with creating such an iconic landmark including purchasing land for expansion, hiring architects and engineers, and acquiring artwork for display.

Conclusion: Ultimately, it cost approximately $18 million dollars to build the Philadelphia Museum of Art – a staggering figure at that time considering its size and scope. Although much larger than originally estimated due to additional expenses associated with creating an iconic landmark, it was an investment worth making as it has become one of America’s premier art institutions and cultural centers.