In 1993, the museum moved to its current building, designed by the Canadian-born American architect Frank Gehry, and renamed in honor of art collector and philanthropist Frederick R. Weisman.

In 1982 Weisman purchased an estate in the Holmby Hills area of Los Angeles that would serve as a showcase for his personal collection of 20th-century art.

The Weisman Foundation estate is a two-story Mediterranean Revival house designed in the late 1920s by Los Angeles architect Gordon B. Kaufmann.

The Weisman home exhibits the fine craftsmanship characteristic of the period, including custom decorative treatments on the walls and ceilings.

[2] It is one of the major landmarks on the University of Minnesota campus, situated on a bluff overlooking the Mississippi River at the east end of the Washington Avenue Bridge.