The mayor has just named a task force of political and business leaders to advise him on what should be done with the site when the new, larger convention center opens. It is now under construction at Mount Vernon Square.

The museum would cost about $200 million, while the commercial part is estimated to cost up to $800 million. The museum would not succeed without other development nearby, supporters say. The proposal comes as Washington tries to transform its East End Downtown, sometimes called Penn Quarter, into a tourist destination with entertainment and cultural center. It also follows closely on the heels of the Newseum's announcement that it will pay $100 million to relocate to the Department of Employment Services building at 6th and Pennsylvania Avenue NW, less than 10 blocks away.