The Smithsonian Institution is searching for a public or private partner to redevelop and rent the historic Arts and Industries Building, since, according to the Smithsonian’s facilities director, William W. Brubaker, the Institution “does not have funding now or in the foreseeable future to rehabilitate” it. The 126-year-old building, the second-oldest next to the Smithsonian Castle, has been closed for three years “in preparation for renovation” since the roof began collapsing — but no work has been done.

Like much of the news about the foreseeable future at SI these days, this is a little depressing. Originally the National Museum Building, the structure has had a history of playing home to some of the Smithsonian’s most important collections, only to have them be moved to newer buildings — the remaining Arts and Industries Collection was actually moved to the Museum of History and Technology (now the National Museum of American History) in 1964, and since then the building has been the home of special, temporary exhibitions until it closed for good three years ago. Concerned about its future, the National Trust for Historic Preservation last year named it one of America’s Most Endangered Places.

The good news is that even though the Smithsonian is looking for someone from the outside to step in to save the building, it’s unlikely it would become anything truly offensive (like say, a CVS). Currently the Institution is putting out a request for qualifications, or a general call to see who might be interested, and those proposals will need to “be consistent with the mission of the Institution.” Possible tenants being mentioned at this early stage include the National Children’s Museum or a new National Latino Museum, though neither have submitted formal proposals.

What would you like to see done with the historic space? Are there any wealthy, private institutions you can imagine wanting to make the Arts and Industries Building their home?