The Miami Art Museum (MAM) yesterday revealed plans for a new three-story home designed by Swiss architecture firm Herzog & de Meuron. The new 120,000-square-foot building, situated on the Biscayne Bay, will be three times larger than MAM’s current home, feature 32,000 square feet of gallery space, and be designed to achieve silver LEED certification for its environmental impact.

MAM estimates that the total project will cost $220 million, of which $131 million will be specifically associated with the costs of constructing the new building. Taxpayers have voted to fund a $100 million bond initiative for the project. The remainder of the funding will come from the museum’s current capital campaign. If all goes according to plan, the new museum will open to the public in 2013.

The firm of Jacques Herzog and Pierre de Meuron — who won the architecture profession’s most prestigious award, the Pritzker Prize, in 2001 — have been active in museum projects, building for an expansion for the Walker Art Center in Minneapolis, Minnesota (2005); designing the Schaulager museum in Basel (2003); and converting a disused power plant into the current galleries of the Tate Modern in London (2000).