The National Gallery of Victoria (NGV) in Melbourne, Australia, has announced a gift of AU$100 million ($74.2 million) from Lindsay and Paula Fox to fund construction of a 300,000-square-foot contemporary art museum, The Age reports.

The gift from Lindsay Fox, founder of Linfox, a global transport company, and his wife, Paula, a member of the NGV Foundation board, is the single largest donation by a living donor to a cultural institution in Australia. When completed in 2028, the facility—to be called The Fox: NGV Contemporary—will become the permanent home of the museum’s contemporary art collection. The museum will be the centerpiece of the larger redevelopment of the Melbourne Arts Precinct that is estimated to cost AU$1.7 billion ($1.26 billion), creating more than 11,000 jobs over the life of the project, according to the Victoria state government.

Describing the gift—made on Lindsay Fox’s 85th birthday—as an “extraordinary commitment,” Victoria’s creative industries minister Danny Pearson said, “It may be Lindsay’s birthday but what an incredible gift to the people of Victoria.”

“I think you’ve got to look at this gift in the light of my family,” said Fox. “We’re in a position where we can help do something for Victoria, which has been so good to us.” Referring to his children and grandchildren, Fox continued, “The reason it’s ‘Fox’, not ‘Lindsay and Paula’, is that this is a family affair that these kids will carry on for generation after generation.”

(Photo credit: National Gallery of Victoria/Darcstudio)