Ken Griffin expects to break ground next year on a 54-story tower in Miami that will serve as headquarters for his Citadel financial empire, enlisting a Philadelphia developer as a consultant on the project.
According to plans filed with Miami-Dade County on Monday, the proposed building at 1201 Brickell Bay Drive offers 1.7 million square feet, with offices on the upper floors and about 413,000 square feet of a hotel. A Griffin spokesman said the waterfront project is expected to break ground in the third quarter of 2025.
Citadel Securities, the billionaire founder of hedge fund Citadel and market maker Citadel Securities, first proposed the project in 2022, with an estimated cost of more than $1 billion. That same year, Griffin left his longtime home of Chicago, moving his family and his business to Miami. His firms will serve as the anchor tenant for the new tower.
The building, which will be one of the tallest buildings in the city, will “redefine the Miami skyline,” the spokesperson said, adding that it will build on Miami’s reputation for “talented professionals and their families, businesses and culture. will strengthen as a destination for
Griffin, 55, has tapped Philadelphia-based Gatso Development Partners to consult on the project, filings show. The firm’s cofounder, John Gatso, has worked on numerous projects with Comcast Corporation. Griffin previously excluded Chicago-based Sterling Bay from the project.
Foster + Partners is handling the design of the Miami tower, which will include retail and waterfront restaurant space, according to the filing, as well as a public walkway along the water.
