TUCSON, Ariz. (AP) — The Tucson Museum of Art is planning an expansion after receiving a $2.5 million gift and a collection of pre-Columbian art for long-term loan.

The Arizona Daily Star reports I. Michael and Beth Kasser have donated the money and will loan their collection of 250 artworks.

The collection will be housed in a new 6,000-square-foot (557-square-meter) gallery dedicated to pre-Columbian and Latin American art.

Michael Kasser says he has been considering what to do with the collection for years and this option just made sense. Kasser is the president of the Tucson-based real estate investment firm Holualoa Corp.

Museum CEO Jeremy Mikolajczak says the gift "sets the pace for where we want to go and where we see ourselves in the future."

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Information from: Arizona Daily Star, http://www.tucson.com