Investor Nicolas Berggruen To Set Up Another Think Tank Near MacArthur Park
Billionaire Nicolas Berggruen is making a big investment in LA.
After the news last year that he plans to build a $500M headquarters for the Berggruen Institute in the Santa Monica Mountains, now his public policy think tank is set to open a second location near MacArthur Park, the LA Times reports.
Spanish architecture firm SelgasCano has been hired to work on the project.
The seven-year-old Berggruen Institute's first location in the Santa Monica mountains will be designed by Swiss firm Herzog & de Meuron.
The second location, 2500 West Seventh St., could take about two years to build while the first location may take three times as long.