Ken Griffin is anticipating to interrupt floor subsequent yr on a 54-story tower in Miami that can function headquarters of his Citadel monetary empire, enlisting a Philadelphia developer as a guide on the challenge.
The proposed constructing at 1201 Brickell Bay Drive may have 1.7 million sq. ft, combining places of work and a roughly 413,000-square-foot lodge on the higher flooring, in response to plans filed with Miami-Dade County on Monday. The waterfront challenge is anticipated to interrupt floor within the third quarter of 2025, a spokesperson for Griffin mentioned.
The billionaire founding father of hedge fund Citadel and market maker Citadel Securities first proposed the challenge in 2022, with its price estimated to be greater than $1 billion. That very same yr, Griffin relocated his household and his companies to Miami after leaving his longtime house in Chicago. His companies will function anchor tenants for the brand new tower.
The constructing, set to be one the town’s tallest, will “redefine the Miami skyline,” the spokesperson mentioned, including that it’s going to bolster Miami’s popularity as a “destination for talented professionals and their families, businesses and culture.”
Griffin, 55, has tapped Philadelphia-based Gattuso Growth Companions to seek the advice of on the challenge, the filings present. The agency’s co-founder, John Gattuso, has labored on a number of initiatives with Comcast Corp. Griffin beforehand dropped Chicago-based Sterling Bay from the challenge.
Foster + Companions is dealing with the design for the Miami tower, which may even embrace retail and waterfront restaurant area, in response to the filings, in addition to a public pedestrian path alongside the water.
