Margaret Thatcher who recently passed away at the age of 87 from a stroke on April 8 could have a museum in her honor in London. 

Conservative Way Forward has revealed a plan for a Margaret Thatcher library and museum. CNN Go reported that the museum will feature her famous suits and handbags as well as donated and loaned items.

 "By May 2009, it had become clear to me that we needed something to protect the legacy of Margaret Thatcher and to teach future generations about her life, values and achievements," said Donal Blaney, chief executive of Conservative Way Forward, from the Conservative Home blog.

The backers of the project aim to raise £15 million or $23 million to create the museum.

Metro UK reported that the museum is based after the Ronald Reagan Presidential Library in the U.S.

Ben Elliot, chairman of the project's trustees at Conservative Way Forward added to Metro UK "The centre will be a place for scholars, students and tourists alike to come and learn about the remarkable life, the unique achievements and the core values of Margaret Thatcher."

Lord Parkinson, former cabinet minister and Conservative Party chairman, said to Metro UK, "This will conserve Lady Thatcher's legacy and teach a whole new generation about the importance of the work she did as prime minister."

Thatcher was said to be aware of the museum plans and left a number of letters to be included at the museum.

Metro UK reported that there has already been a few large private donations pledged and there have been talks to have the museum set up near London's Westminster. Thatcher's funeral is planned for Wednesday.

There have also been talks for an airport to be opened in Thatcher's honor. Boris Johnson, London's mayor has called for any new airport to be named after her.

Johnson told The Daily Mail, "Mega airports are springing up all over the continent that are stealing British trade and are a threat to our economy. It is why this country so desperately needs a new four runway hub airport and I can think of no name that would strike greater fear into the heart of our European rivals than Margaret Thatcher International Airport."