The Broad, Los Angeles’ newest contemporary art museum, will offer free general admission when it opens in late 2014. The museum’s founders, Eli and Edythe Broad, made the announcement during a hardhat tour and preview of the institution. Eli Broad said, “It has long been our goal to ensure that the contemporary artworks in the Broad collections are seen by the broadest possible public. We believe that free general admission to the The Broad will help draw visitors to all of the cultural institutions along Grand Avenue.”

Designed by the New York City-based studio Diller Scofidio + Renfro, the new museum will present approximately 2,000 works from the Broads’ collections in a gallery space spanning over 50,000 square feet. In addition to the public galleries, The Broad will be the headquarters of The Broad Art Foundation, a lending library of contemporary art created by the Broads in 1984. Since establishing the foundation, the Broads have loaned over 8,000 works of art to nearly 500 museums and galleries across the globe.

The $140 million museum has created over 1,000 new jobs and is being built entirely with union labor.