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Investor Nicolas Berggruen To Set Up Another Think Tank Near MacArthur Park

A second location for the Berggruen Institute could open at 2500 West Seventh St. in LA.

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.