MUSEUM OF FINE ARTS, BOSTON & THE FORSYTH INSTITUTE AGREEMENT

Monday, 23 July 2007 23:48

BOSTON, MA - The Museum of Fine Arts, Boston (MFA) and The Forsyth Institute and its Trustees announced that they have signed a definitive purchase and sale agreement by which the MFA will acquire The Forsyth Institute property, which is adjacent to the MFA at 140 The Fenway. This is a historic moment for both institutions, as the Museum expands its campus with the addition of the beautifully designed Beaux Arts building and as Forsyth grows its scientific research portfolio in a modern biomedical facility. The historic Forsyth building was completed in 1914 and comprises approximately 107,000 square feet of existing space on 1.6 acres of land. The closing for the purchase is anticipated to take place in August; Forsyth will become a tenant and remain in the building for some time while arrangements for its new facilities are completed.

"This is a once in-a-lifetime opportunity for the Museum," said Malcolm Rogers, Ann and Graham Gund Director of the MFA. "The purchase of this venerable building along with the Museum’s expansion plans for the new American Wing which overlooks Forsyth Way and the revitalization of the Fenway entrance will dramatically transform the Museum and this neighborhood for generations to come."

In 1909, the Museum of Fine Arts, Boston, opened the doors to its Guy Lowell neo-classical designed building, which features a 500-foot façade of cut granite along Huntington Avenue, a grand rotunda, and impressive exhibition galleries. The Museum is currently involved in a transformational Building Project that will result in an extraordinary American Wing overlooking Forsyth Way and the renovation and reopening of the Fenway entrance, which has been closed since 1981. The Building Project also calls for increased space for Contemporary and Modern art, a new and centrally located gallery for special exhibitions, new conservation facilities, enhanced facilities for educational programs, a soaring glass-enclosed courtyard connecting the existing and new Museum buildings, as well as renovated galleries in the Art of Europe and Art of the Ancient World. This initiative is being supported by a $500 million campaign of which $409 million has been raised.

Dr. Dominick P. DePaola, President and CEO of The Forsyth Institute said, "It is fitting that this Boston landmark will be sold to another organization with longstanding ties to the Fenway. The Museum of Fine Arts shares Forsyth’s historic commitment to the city of Boston and we are happy that this building will continue to serve as a resource for the community."

The Museum of Fine Arts, Boston, is recognized for the quality and scope of its encyclopedic collection, which includes an estimated 450,000 objects. The Museum’s collection is made up of: Art of the Americas; Art of Europe; Contemporary Art; Art of Asia, Oceania and Africa; Art of the Ancient World; Prints, Drawings and Photographs; Textile and Fashion Arts; and Musical Instruments. Visit : www.mfa.org

The Forsyth Institute is the world’s leading independent nonprofit research organization focused on oral, craniofacial and related biomedical science. Established in 1910, Forsyth’s goal is to lead the discovery, communication and application of breakthroughs in oral health and disease prevention that will significantly improve the health and well-being of the nation and the world. For more information about Forsyth visit its web site at www.forsyth.org.