Art collector Tom James, who is executive chairman of Raymond James Financial, says he is under contract to purchase the first two floors of a building at 100 Central Ave. in St. Petersburg, Florida, to partly house a new museum.
About 60 percent of 133,600 square feet will publicly display works from James' massive collection of Western and American Indian art, reports the Tampa Bay Times. James previously stated he would commit $75 million of his own money for the museum, although that figure has not been confirmed. It is expected to open in 2017.
St. Petersburg is also awaiting the opening of the American Arts and Crafts Movement Museum, courtesy of collector Rudy Ciccarello. The city already hosts the Dalí Museum and the Museum of Fine Arts, St. Petersburg.