Ken Griffin Unveils Plans for 54-Story Citadel HQ in Miami
By Julia Echikson August 26, 2024 4:44 pm
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Ken Griffin has unveiled the complete plans to build a 54-story global headquarters in Miami’s Brickell district for his two companies, hedge fund Citadel and market maker Citadel Securities.
The 1.7 million-square-foot high-rise, located at 1201 Brickell Bay Drive, would house 1.3 million square feet of office space, a 212-room hotel and 23,600 square feet of retail space, according to a filing to Miami-Dade County lodged Monday.
The proposal comes about two years after Citadel bought the 2.5-acre, waterfront site for a record $363 million. The purchase came months before Griffin announced that he would relocate his two companies from Chicago to Miami.
Since the move, Griffin, who’s worth an estimated $38 billion, has established himself and his firms as power players in Miami, helping to rebrand the city from a sunny vacation destination into the Wall Street of the South.
“The development of this iconic, world-class tower at 1201 Brickell will redefine the Miami skyline and further solidify this dynamic and vibrant city as a global destination for talented professionals and their families, businesses, and culture,” said a spokesperson for Griffin.
For the new 1,032-foot-tall global headquarters, Griffin has enlisted Norman Foster’s firm as the architect and Philadelphia-based Gattuso Development Partners to serve as the developer. The financial firm first tapped Sterling Bay, but parted ways with the Chicago-based developer last year.
Construction is set to begin in the third quarter of 2025, according to Bloomberg. It’s unclear how much space Griffin’s two companies will occupy or how the construction will be financed. A spokesperson for Citadel declined to comment.
In the meantime, Griffin’s two companies will be based at 830 Brickell, a nearby office building that’s nearing completion.
Julia Echikson can be reached at jechikson@commercialobserver.com.
