The Sarjeant Gallery has raised $10 million towards its re-development project, meaning it may receive a grant of the same amount from the government.

Greg Anderson from the Sarjeant confirmed the gallery had reached the match funding requirement set by the Ministry of Culture and Heritage to raise $10 million. Its application for the funding was submitted on Thursday afternoon.

"The ministry asked us to find $10 million in funds other than from Whanganui District Council sources - that is, from private sources."

Mr Anderson said the ministry had confirmed it had received the application, but no indication had been given as to when the Sarjeant would hear whether its application was successful.

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He said it was satisfying to have achieved the $10 million mark.

'We worked hard to reach the match funding requirements. Now it's a matter of waiting," Mr Anderson said.

In June the gallery received grants of $1 million each from the Whanganui Community Foundation and the S.M. Davis Trust.

The Sarjeant's re-development project is estimated to cost around $34 million. It will include restoration of the existing building, the addition of a new purpose-built wing for storage, exhibitions and education.

The project also includes earthquake-strengthening work, after it was discovered the nearly-century-old bulding had very poor earthquake safety.

In 2014 the gallery made a temporary move from Queens Park to Taupo Quay, where it will remain for several years while the re-development project takes place.