Fans are breathing a sigh of relief after Washington, D.C.’s Corcoran Gallery of Art decided against selling its historic Beaux-Arts home and moving to the suburbs. The cash-strapped institution shocked fans with the proposal, which was announced this summer. Ultimately, the Corcoran’s board of trustees decided that the museum and its associated College of Art and Design, which is in close proximity to the White House, should stay put.

Designed by Ernest Flagg, the Corcoran Gallery opened to the public in 1897 and remains the largest privately supported cultural institution in Washington, D.C. The museum, which specializes in American art, is currently in need of $130 million worth of renovations. While the institution’s façade was restored last year, the galleries are still in need of a major overhaul, which is the main reason why Corcoran officials were considering the sale to begin with.

Although the institution has been struggling financially for years, strong reaction to the potential move has proved inspirational. The Corcoran is considering embarking on partnerships with like-minded institutions and collaborations with other D.C. museums, including the National Gallery of Art, have been explored.