The Academy of Motion Picture Arts and Sciences announced that it has reached its initial goal of $100 million in a $250 million capital campaign to fund the upcoming Academy Museum of Motion Pictures. Designed by architects Renzo Piano and Zoltan Pali, the non-profit museum which will be located in the historic May Company Wilshire building in Los Angeles, is slated to open in 2016. The design fully restores the Wilshire and Fairfax street-front facades of the 1938 Streamline Moderne building. It will also include a spherical glass addition at the back of the original building, which is designed to represent the marriage of art and technology. The addition will house a state-of-the-art theater.