Wells Fargo will donate $5 million toward completion of the long-delayed Walt Disney Concert Hall, it was announced Sunday.
The would-be culture palace so far remains nothing more than a parking structure near the downtown Music Center.
The project’s total cost has been estimated at $220 million.
The Wells Fargo donation, to be spread over five years, was announced at the Music Center’s Dorothy Chandler Pavilion during a concert by the Los Angeles Philharmonic.
Eli Broad, chairman of SunAmerica and leader of the effort to secure hall funding, said that completion was “nearly in our grasp.”
He vowed to raise the remaining funds by June 30 and begin construction by early 1998. He said all that’s needed now is $35.4 million.
The hall would house the Los Angeles Philharmonic in a building of undulating limestone curves designed by architect Frank O. Gehry.