Despite halting its expansion plans late last year, the Saint Louis Art Museum has nearly reached its fundraising goal and is planning to break ground on the project later this year, the St. Louis Post-Dispatch reports.

The museum has received $60 million toward its $125 million capital campaign goal and another $60 million in pledges — and has not lost a single pledge due to the economic downturn, said museum spokesperson Jennifer Stoffel. The expansion is expected to take two years and cost $80 million. Another $30 million will be added to the museum's endowment, while the rest will be used for architect's fees, landscaping, and reconfiguring the current building.

Although some of the galleries in the museum have been emptied to protect valuable artworks during the construction process, two special exhibitions recently have been installed, further signaling a revival of the museum's plans.