In 1987, the museum changed its name to the Davenport Museum of Art. Then in 2003, the museum relocated to the heart of downtown Davenport, following a major capital campaign. In recognition of the $13.25 million gift to the new building project from the V. O. and Elizabeth Kahl Figge Foundation, the museum was renamed the Figge Art Museum.
The Figge Art Museum opened at its new home on the banks of the Mississippi River in August 2005. The 114,000 square-foot facility was designed by British architect David Chipperfield. The combination of reflective, transparent and opaque surfaces continuously transforms the appearance of the facade in relation to the sun and changing cloud patterns. The building is a civic landmark in downtown Davenport and enables the museum to further its mission as a regional exhibition space and a community-oriented education center.