The former Paris stock exchange is to be reimagined as an art museum designed by renowned Japanese architect Tadao Ando.
The 19th century building is one of the city’s lesser known architectural treasures.
Plans for the new museum were unveiled on Monday by business tycoon and major art collector, François Pinault.
His luxury group owns some of of the world’s most famous fashion brands including Yves Saint Laurent and Gucci.
Pinault’s €1.25bn art collection comprises over 3,500 works and features pieces by leading artists including Mark Rothko and Damien Hirst.
The proposal for the new museum includes a giant concrete cylinder at the centre of the historic circular building.
The ambitious design is being positioned as a beacon amid the recurring terrorist atrocities and Britain’s departure from Europe. Ando said it would “renew hope in the future”.
Pinault’s art foundation will be granted a 50-year tenancy in exchange for restoring the building.
The mayor of Paris described the opportunity as an ‘immense gift’.
Image courtesy Guilhem Vellut/Creative Commons