The Museum of Modern Art Frankfurt (MMK) is due to open a third building in the city this weekend. The new space, which has been branded MMK2 is located in the second story of the TaunusTurm, a skyscraper located in the banking quarter of Germany’s financial capital.

The MMK’s collection encompasses approximately 5,000 works. Due to limited exhibition space, even some of its most high-profile works haven’t left storage since their acquisition. The new 2000 square meter (22,000 square foot) exhibition space will greatly expand the museum’s exhibition possibilities.

The project was spearheaded by MMK director Susanne Gaensheimer. Rather unique for Germany, the project’s €4 million budget was 100 percent privately financed. The owner of the building agreed to provide the space free of charge for 15 years. The cost of upkeep and operations has been provided by sponsors. Gaensheimer told Mittelhessen “This is a unique financial model in Germany.”

MMK2’s inaugural exhibition, Boom She Boom, is the institution’s first to present exclusively female contemporary artists. It focuses on women who have significantly influenced art since the 1960s such as Rineke Dijkstra, Rosemarie Trockel, and Hanne Darboven.

The deputy director and curator of the exhibition, Peter Gorschlüter told Journal Frankfurt “Transformation plays a central role in the exhibition. All works contain strong symbolic value, and many are very personal.”