Guggenheim Museum Bilbao

The Guggenheim Museum Bilbao is a museum of modern and contemporary art designed by Canadian-American architect Frank Gehry, and located in Bilbao, in Basque Country, Spain. The museum was inaugurated on 18 October 1997 by King Juan Carlos I of Spain, with an exhibition of 250 contemporary works of art. Built alongside the Nervion River, which runs through the city of Bilbao to the Cantabrian Sea, it is one of several museums belonging to the Solomon R. Guggenheim Foundation and features permanent and visiting exhibits of works by Spanish and international artists. It is one of the largest museums in Spain. A work of contemporary architecture, the building has been hailed as a "signal moment in the architectural culture", because it represents "one of those rare moments when critics, academics, and the general public were all completely united about something", according to architectural critic Paul Goldberger. The museum was the building most frequently named as one of the most important works completed since 1980 in the 2010 World Architecture Survey among architecture experts. History Founding In 1991, the Basque government suggested to the Solomon R. Guggenheim Foundation that it would fund a Guggenheim museum to be built in Bilbao's decrepit port area, once the city's main source of income. The Basque government agreed to cover the US$100 million construction cost, to create a US$50 million acquisitions fund, to pay a one-time US$20 million fee to the Guggenheim and to subsidize the museum's US$12 million annual budget. In exchange, the foundation agreed to manage the institution, rotate parts of its permanent collection through the Bilbao museum and organize temporary exhibitions.