Proje4L 'Istanbul Museum of Contemporary Art', which was closed in order to convert to being a contemporary art museum was re-opened at the same location on the 25th of December, 2004 under the name, Proje4L 'Elgiz Museum of Contemporary Art'.

For three years, Proje4L 'Istanbul Museum of Contemporary Art' provided an opportunity for new developments in Turkish contemporary art, helped young artists to gain recognition within the international art scene and organized international exhibitions and conferences. Now it hosts the permanent collection of its founders, Sevda & Can Elgiz. 'Elgiz Museum of Contemporary Art', is a non profit organisation dedicated to increasing the profile of contemporary art in Turkey.

Consisting of works by influential Turkish and International artists, 'The Elgiz Collection' represents a wide range of progressive art in different media and illustrates the unerring passion for collecting of it’s founders. The objective at the 'Elgiz Museum of Contemporary Art' is to create a common message through Turkish and International art, promoting visual and cultural diversity. By integrating the work of Turkish artists with that of established International artists the museum effectively facilitates the globalization of Turkish art.

'Elgiz Museum of Contemporary Art' organizes lectures and seminars in its conference space by inviting International collectors to share their enthusiasm and their experiences in collecting art.

Another feature of the museum is the "Project Room". The glass partition 'Artvarium', which connects with the main exhibition gallery, is reserved for guest artists to undertake temporary projects. The current project on show is Tulu Bayar's instillation piece 'Page'.

Elgiz Museum of Contemporary Art is open from 10 : 00 – 19 : 00, Wednesday to Friday; from 10 : 00 – 16 : 00 on Saturday; and other weekdays by appointment. No Entance Fee.