Ken Griffin expects to begin construction next year on a 54-story tower in Miami that will serve as the headquarters for his Citadel financial empire. He has hired a Philadelphia-based developer as a consultant for the project.
The proposed building at 1201 Brickell Bay Drive will be 1.7 million square feet and will combine offices on the upper floors and a roughly 413,000-square-foot hotel, according to plans filed with Miami-Dade County on Monday. The waterfront project is expected to break ground in the third quarter of 2025, a Griffin spokesman said.
The billionaire founder of hedge fund Citadel and market maker Citadel Securities first proposed the project in 2022, with an estimated cost of over $1 billion. That same year, Griffin moved his family and businesses to Miami after leaving his longtime home in Chicago. His companies will serve as anchor tenants for the new tower.
The building, which will be one of the tallest in the city, will “redefine the Miami skyline,” the spokesman said, adding that it will enhance Miami’s reputation as a “destination for talented professionals and their families, businesses and culture.”
Griffin, 55, has hired Philadelphia-based Gattuso Development Partners as a consultant on the project, documents show. The firm’s co-founder, John Gattuso, has worked on several Projects with Comcast Corp. Griffin previously dropped Chicago-based Sterling Bay is involved in the project.
Foster + Partners is responsible for the design of the Miami Tower, which, according to documents, will also include waterfront retail and restaurant space and a public pedestrian walkway along the water.