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Why the concern with saving the building? I have been there many times and I have always found the general flow awkward. More importantly, most of it was designed before anyone thought that barrier free access would be a concept. While accommodations have been made, they aren't always what one would plan from new.
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It underwent an
$18.2M reno 15 years ago, and announced
plans for a $30M reno seven years ago that may or may not still be in the works. (That price tag would probably not come close to the cost of a from-scratch build for a facility that has almost hospital-grade technical specs.)
Nobody as yet has proposed privatizing the AGH, so replacing the gallery on an artificial timeline would be a huge project floated on the public dime. That would be an entertaining prospect. Twenty years ago, there was talk of moving the AGH into the newly-vacant Eaton Centre, and council has more recently debated selling off the gallery's permanent collection to improve its bottom line. (The City makes an annual contribution of $1M+ to the AGH.)
Edited to add some pertinent detail in the
Feb 11, 2020 Spec:
"In 2013 the art gallery under previous president and chief executive officer Louise Dompierre proposed a $30-million fundraising campaign to finance a refurbished and expanded gallery that would have included a new wing, three new studios and additional gallery space on the second floor. But councillors rejected the idea that the city would help pay for it, believing residents were opposed to paying higher taxes for the project. The design and fundraising plans were left in limbo until they were scrapped in 2017 as unrealistic."