We have had an option on the building for some time now, but the deadline to purchase approached. Given the tremendous response to our campaign and our goal for a 2020 opening, now was the time to move forward with the acquisition.
The success of this effort is still very much dependent on the generosity of our community’s benefactors. We are grateful that the response to date has been exceptionally positive, with our benefactors seeing many benefits associated of a new Milwaukee Symphony Center. Our hope is that others will join us in this journey and help us see this campaign through to the finish.
We are very pleased by the response to date, with approximately $92 million pledged or in hand. Our entire campaign includes the building acquisition and remodel, as well as other efforts to rationalize our business model, including increasing our endowment and eliminating our old pension. As we finalize our construction and engineering plans, we will know our final target.
As we value engineered the project, we may make some modifications to ensure that we are fully maximizing the Warner Grand space. As we finalize those details, we will set and communicate a firm, guaranteed construction price with our contractors.
Being in possession of the building will now allow us to move forward with our final design and engineering plans. Once final, we will announce our groundbreaking. Our anticipated opening is the Fall of 2020.
The savings realized through a more deliberate construction schedule led us to determine that a Fall 2020 grand opening date was ideal (compared to 2019).
Most of our donors at this stage prefer to remain anonymous.