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 mission.
The proposed constructing at 1201 Brickell Bay Drive could have 1.7 million sq. ft, combining workplaces and a roughly 413,000-square-foot resort on the higher flooring, in line with plans filed with Miami-Dade County on Monday. The waterfront mission is predicted to interrupt floor within the third quarter of 2025, a spokesperson for Griffin stated.
The billionaire founding father of hedge fund Citadel and market maker Citadel Securities first proposed the mission in 2022, with its value estimated to be greater than $1 billion. That very same yr, Griffin relocated his household and his companies to Miami after leaving his longtime dwelling in Chicago. His companies will function anchor tenants for the brand new tower.
The constructing, set to be one town’s tallest, will “redefine the Miami skyline,” the spokesperson stated, including that it’s going to bolster Miami’s popularity as a “vacation spot for proficient professionals and their households, companies and tradition.”
Griffin, 55, has tapped Philadelphia-based Gattuso Growth Companions to seek the advice of on the mission, 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 mission.
Foster + Companions is dealing with the design for the Miami tower, which may also embody retail and waterfront restaurant house, in line with the filings, in addition to a public pedestrian path alongside the water.
