The highly anticipated renovation of the Petersen Automotive Museum has taken a big step forward, with the addition of the first stainless steel ribbons to the exterior of the Mid-Wilshire institution.

The project, which began work late last year, includes a complete overhaul of the building's facade and an expansion of the museum's footprint to 300,000 square feet. Exterior designs by Kohn Pederson Fox Associates feature a series of curvilinear steel ribbons which will wrap the exterior of the four-story edifice. Inside, plans fall for 22 new galleries, complete with interactive LED displays which will "set a new standard for automotive museums."

According to the museum's official blog, the refurbished facility will begin its programming on the third floor with displays dedicated to the history of the automobile and its close ties to Hollywood. After descending to the second floor, visitors would view exhibits focused on racing, customization, manufacturing and other elements of the automobile industry. The museum's ground level would focus on the "art of the automobile," complete with a contemporary gallery devoted to the car.

The renovation is being funded by the a $125 million capital campaign, with $75 million having already been raised as of last September. Completion of the project is scheduled for this December.

To follow progress, check out The Petersen's live construction camera.