MILWAUKEE (CBS 58) -- The Betty Brinn Children's Museum (BBCM) will no longer pursue a move to a new building with the Milwaukee Public Museum (MPM).

The children's museum, along with MPM, made the announcement in a statement Friday, April 8, saying:

"The Board of Directors for Betty Brinn Children’s Museum (BBCM) determined that it is no longer in the organization’s strategic best interest to pursue a move to a new construction building at this time.

As the planning process unfolded through 2021 and early 2022, budgetary calculations changed dramatically, both due to external pressures related to inflation and updated plans that would have called for additional costs to design and construct BBCM exhibits. These factors led BBCM to the difficult decision that it should not build and operate a new construction children’s museum as part of this project. BBCM will remain at its current location while it considers alternative opportunities.

Both organizations wish each other the best of luck and much success as they move forward on separate paths."

A news release says the Milwaukee Public Museum is still committed to its new museum project.