2024-11-21T11:13:38-05:00 https://archinect.com/news/article/150440035/completed-cultural-sector-projects-valued-at-more-than-8-billion-in-2023-study-shows Josh Niland 2024-08-05T19:38:00-04:00 >2024-08-06T15:37:13-04:00 <img src="https://archinect.gumlet.io/uploads/f0/f001d277e9a0f12585bfe9a078f731dd.jpg?fit=crop&auto=compress%2Cformat&enlarge=true&w=1200" border="0" /><p>The value of completed cultural projects&nbsp;worldwide in 2023 totaled $8.58 billion, and announced projects equaled another $5.62 billion, according to the latest&nbsp;<a href="https://aeaconsulting.com/uploads/1600016/1719735154902/AEA_Consulting_2023_Cultural_Infrastructure_Index_WEB.pdf" target="_blank">Cultural Infrastructure Index</a>&nbsp;from the industry group AEA Consulting. The accounting includes 192 completed projects that year, in addition to 198&nbsp;announced projects through the end of December.&nbsp;</p> <p>The most expensive among the completed projects was the $500 million <a href="https://archinect.com/firms/cover/1887657/rex" target="_blank">REX</a>-designed Perelman Performing Arts Center in New York City. The new Tennessee Performing Arts Center in Nashville from <a href="https://archinect.com/firms/cover/39902/big-bjarke-ingels-group" target="_blank">BIG</a> equaled that amount in the announced project category.&nbsp;</p> <p>The majority of cultural projects (52.6% completed and 56.6% announced) were registered in the Museum/Gallery subcategory, followed by Performing Arts Center for completed projects and Multifunction Arts Venue for announced projects.</p> <figure><p><a href="https://archinect.gumlet.io/uploads/c3/c33ad892371d094603329c15bbbaf1b2.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=1028" target="_blank"><img src="https://archinect.gumlet.io/uploads/c3/c33ad892371d094603329c15bbbaf1b2.jpg?auto=compress%2Cformat&amp;enlarge=true&amp;w=514"></a></p><figcaption>The $465 million <a href="https://archinect.com/news/article/150348653/take-a-look-inside-studio-gang-s-newly-opened-gilder-center-at-the-american-museum-of-natural-history" target="_blank">Richard Gilder Center for Science, Education and Innovation</a> at the American Museum of Natural History in New York by Studio Gang. Image: &copy;...</figcaption></figure>