<p>Eli Broad will build a new $100 million contemporary art museum in downtown Los Angeles.
Philanthropist and art collector Broad expects the new museum will be completed in two years. A $200 million endowment will assist in supporting the new complex where part of Mr. Broad's extensive collection is to be exhibited. </p>
<p>The new complex will be located on Grand Avenue not far from the Los Angeles County Museum of Art and the Walt Disney Concert Hall, home of the Los Angeles Symphony.</p>