Alberta Premier Jason Kenney pledged $40 million on Friday for the renovation and "complete renewal" of the Glenbow Museum in Calgary.

The institution, which houses art and historical artifacts, is seeking a total of $115 million to complete the project.

Watch the video above to listen to the announcement

Kenney said he hoped the provincial government contribution would spur private donations and he encouraged the City of Calgary to also provide funds.

"I believe today's commitment will make it much easier for the board to go out and find those contributions."

Kenney said he wants to see the institution transform into one of the top cultural institutions in Canada.

The Glenbow introduced new CEO Nicholas Bell last year with a mandate for "a full transformation of its building and exhibit spaces."

Gallery space

Bell said on Friday that he wants the Glenbow to be "one of the most ambitious and progressive museum spaces in Canada."

Much of that focus will be on art and culture.

Kenney stressed that Calgary is an outlier among major cities for not having a significant public art gallery.

The announcement comes just one month after another significant art institution opened its doors.

Contemporary Calgary, which revamped the old Planetarium space on the west side of downtown, focuses on contemporary art and hopes to fund a major expansion of the space.

It is seeking $30 million from the Alberta government to help finance its expansion.