Art Basel Extends Fair for 5 More Years in Miami BeachOctober 6, 2017
By: Ismael Rodriguez
The organization behind Art Basel has agreed to extend its iconic art fair in Miami Beach for five more years after the city complied with the fair’s request to pay for a $2.8 million elevator and escalator in the Miami Beach Convention Center.
The deal also strengthened the fair’s longevity in Miami Beach by striking a longer commitment than the year-to-year agreements it has signed with the city in the past, adding five years to the lease with a possibility for another extension from 2024 to 2028.
In April, city commissioners voted in favor of adding a $2.8 million elevator and escalator to the $615 million expansion of the Miami Beach Convention Center as part of a deal to convince Art Basel to stay in the city for 10 more years.
The proposed elevator will connect the exhibition halls on the ground floor to a new ballroom on the second floor of the convention center. The center, which is still under construction, will continue its expansion during Art Basel in December, but the city has guaranteed that all exhibition halls will remain open during the fair.
Art Basel Miami Beach is scheduled at the Miami Beach Convention Center from Dec. 7 to Dec. 10.