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Here is a recent rendering of the proposed Vancouver Art Gallery

Fundraising for a proposed $400-million Vancouver Art Gallery (VAG) has has now exceeded $280 million thanks to the federal government pledging $29.3 million in new funding at an event this morning. 

The new money includes $4.3 million from Heritage Canada, with the remaining $25 million coming from Infrastructure Canada. 

"Our target is still 400 million," said VAG CEO Anthony Kiendl. "We're just over 70 per cent there, so we've been continuing to raise money privately."

In 2021, the price tag for the new gallery was pegged at $355 million, including a $50 million endowment fund. The VAG then upped its estimate for the project's cost to $400 million last November, when Polygon Homes CEO and Audain Foundation chair Michael Audain and his wife Yoshi Karasawa pledged that their foundation would provide $100 million to the project. 

The VAG has been planning, for about 14 years, to move from its Robson Square location to a new site on the southern two-thirds of the block bounded by Cambie, Dunsmuir, Beatty and West Georgia streets.