Ken Griffin’s Citadel to Break Ground on $1 Billion Miami Skyscraper for New Headquarters
Ken Griffin is expected to break ground next year on a 54-story tower in Miami that will house his Citadel financial empire and has tapped a Philadelphia real estate developer as an adviser on the project.
The proposed building at 1201 Brickell Bay Drive would span 1.7 million square feet, combining offices and a hotel that would span about 413,000 square feet on the upper floors, according to plans filed with Miami-Dade County on Monday. A Griffin spokesperson said the waterfront project is expected to break ground in the third quarter of 2025.
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 moved his family and businesses to Miami after leaving his longtime home in Chicago. His companies will serve as anchor tenants in the new tower.
The building, which is expected to be one of the city’s tallest, will “redefine Miami’s skyline,” a spokesperson said, adding that it will reinforce Miami’s reputation as a “destination for talented professionals, their families, businesses and culture.”
Griffin, 55, has tapped Philadelphia-based Gattuso Development Partners to advise on the project, records show. The company’s co-founder, John Gattuso, has worked on multiple project with Comcast Griffin Group formerly has fallen Chicago-based Sterling Bay is involved in the project.
Foster + Partners is designing the Miami tower, which will also include waterfront retail and restaurant space, as well as a public pedestrian walkway along the waterfront, according to filings.
