document: LVMH Moves Forward With Gehry Art Museum see photos Forbes Images Click for full photo gallery : Louis Vuitton Foundation for Creation After local authorities halted construction of Bernard Arnault 's new art museum in Paris , the French Senate yesterday approved a bill that will allow it to continue . That 's good news for LVMH , which commissioned Frank Gehry to design the building -- formally known as the Louis Vuitton Foundation for Creation -- in 2006 , at a cost of $ 200 million . The museum will hold Arnault 's vast corporate and private collections of art , including 20th-century classics from Picasso , Yves Klein , Henry Moore and Andy Warhol mixed with modern work by Agnes Martin , Frank Serra , Jeff Koons and Pierre Huyghe . Earlier this year , the administrative tribunal of Paris , a part of the national judiciary system , had revoked the center 's building permit citing its apparent encroachment on the Jardin d'Acclimatation , a childrens park next to the building site . Opponents to the site had also complained that a new building would disrupt the verdant peace of the historic park . Christophe Girard , the deputy mayor in charge of culture of the city of Paris and the director of marketing strategy for the fashion sector of LVMH , filed and won an appeal . Gehry , for his part , told reporters he was `` distressed , shocked and furious '' at the threat to his `` magical '' creation . His spokesman criticized the `` selfishness , lack of civic pride and ignorance '' of the groups opposing the building and predicted that in a few years it will be considered `` a national monument . '' Located in the center of the Bois de Boulogne , the giant glass-encased structure will look like an iceberg dressed in a cloud , '' according to Arnault 's cultural adviser , Jean-Paul Claverie . Gehry has said the translucent panels are positioned to reflect different colors and light patterns throughout the day . Mostly though the complex -LRB- it includes a restaurant and auditorium -RRB- will demonstrate Arnault 's role as the penultimate tastemaker and LVMH as an institution devoted to fostering high culture in France and abroad . The Louis Vuitton Foundation for Creation is set to open in late 2012 . Follow me on Twitter : @HannahElliott
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