Thursday, May 15, 2014 1:11 pm
Takeover plan for DC's Corcoran Gallery now final
Under an agreement signed Thursday, the long-struggling Corcoran Gallery of Art and its college will be taken over by George Washington University and the federally funded National Gallery of Art.
Under the plan, the Corcoran will close around Oct. 1 for renovations. When it reopens, it will offer free admission.
The university will take ownership of the building and Corcoran College of Art. The National Gallery will take responsibility for the art collection and will present modern and contemporary exhibits.
The Corcoran was founded in 1869 with a mission dedicated to art and "encouraging American genius."