As Pinault Scoops Up Venice Property, Paris Plans Get Unexpected Boost

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The move could clear the way for Pinault to buy the land and begin construction of his planned $200 million museum.

Despite persistent rumors that municipal feet-dragging in Boulogne has led Pinault to seek out more accommodating climes in Venice, the Fondation Pinault reassured Parisians that the Palazzo Grassi will not "substitute for" the French museum, according to yesterday's Le Journal.

Designed by Japanese architect Tadao Ando, the museum is to be built on the site of a former Renault factory on the Seine River's Ile Seguin (Seguin Island). Pinault head of an empire that includes Gucci, Christie's and Les Printemps, and the 76th richest man in the world according to Forbes has already invested more than $25 million in feasibility studies and blueprints for the museum since 2000.

The land sale has been stalled, however, by municipal inertia and questions over designs for the 52 hectares of land on the island that will not be used by the museum.

In December two local environmental groups filed complaints in court, demanding that local officials ensure the public space be "green-friendly." Le Journal reported yesterday that the groups dropped their case on April 21, satisfied with officials' guarantees to incorporate bicycle and public transport routes and to cap construction in the final development plans for the site.

Rumors have dogged French authorities for weeks that frustrations with the lethargic construction process in Paris has led Pinault to scrap the French museum plans altogether and instead move into the already existing villa on Venice's Grand Canal. French journalists, meanwhile, have been quick to cast predictions of doom and gloom for the future of French philanthropy.

"I have the feeling that Francois Pinault is disappointed by the behavior of the town of Boulogne-Billancourt which has not exactly been enthusiastic about his ideas," former minister of culture and project adviser Jean-Jacques Aillagon told Le Monde newspaper two weeks ago, referring to the lukewarm reception the museum's contemporary-art focus has received.

"The authorities seem to be totally disinterested in the museum. We weren't asking them to roll out the red carpet, but at least to push forward the development of the site. We are offering an exceptional collection and no-one followed," an anonymous official from the Fondation Pinault then told the Liberation newspaper.

Over the weekend move Italian media reported that the city of Venice had reached an agreement with Pinault to sell him an 80%-stake in the 18th-century building for about $37 million. The businessman has agreed to renovate an adjacent theater at his own expense to exhibit works from his collection which includes works by Mondrian, Miró, Pollock, Picasso and Brancusi while the villa will continue to serve as a museum and cultural center.

Now, Fondation Pinault is reassuring the French art world that all is not lost. The Palazzo Grassi "is not meant to be a substitute for the museum," an official told Le Journal, noting that the villa will just accommodate some pieces from his collection, notably during the construction of the Paris museum.

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