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People walk along the Halifax waterfront at Bishop's Landing.Sandor Fizli/The Globe and Mail

The Art Gallery of Nova Scotia is getting a new home on the Halifax waterfront, at an estimated initial cost of at least $130-million.

The funding announcement was made today by Premier Stephen McNeil and federal cabinet minister Bernadette Jordan.

The province is contributing at least $70-million to the project to start, with Ottawa adding $30-million.

The Art Gallery of Nova Scotia is to lead a capital campaign which is expected to raise another $30-million.

The 142,000-square-foot facility is to include large public spaces and additional space to house the gallery’s permanent collection.

The new gallery is to be built on the Halifax waterfront adjacent to Lower Water Street between Bishop’s Landing and Salter Street.

McNeil has said the gallery needs a new home for its collection of “world renowned” artists ranging from Alex Colville to folk painter Maud Lewis.

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