MIAMI—In another move to bolster Miami’s future as a 24/7 city, The Related Group’s founder has increased his Miami Art Museum contribution to $35 million. The gift is the latest in a string of support for the museum, which city officials expect to act as a cultural hub and drive additional development in the urban core.

“Miami Art Museum’s commitment to assembling one of the world’s leading collections of contemporary art reflects my own desire for Miami to continue to grow as an international cultural destination,” Jorge Perez, CEO of The Related Group, said in a statement. “My hope is that the collection I am donating to the museum, along with the gift for the museum’s new building campaign, will enhance its role as a place where locals and visitors come together to experience an expansive collection of contemporary art, including our community’s finest works, and become educated in the global visual arts.”

With Perez’s donation, the Herzog & de Meuron-designed has raised complex to $167 million of its $220 million goal. In addition to $20 million in cash, Perez will also donate a portion of his Latin American art collection valued at more than $15 million to the museum’s permanent collection. The museum will be renamed the Jorge M. P