Ken Griffin’s citadel to build $1 billion Miami skyscraper for new headquarters

The proposed building at 1201 Brickell Bay Drive will be 1.7 million square feet, combining offices and a roughly 413,000-square-foot hotel on the upper floors, according to plans filed Monday with Miami-Dade County. 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 its cost estimated at more than $1 billion. That same year, Griffin moved his family and business to Miami after leaving his longtime home in Chicago. His firms will serve as anchor tenants for the new tower.

The building, which will be one of the tallest in the city, will “redefine Miami’s skyline,” the spokesman said, adding that it will strengthen Miami’s reputation as a “destination for talented professionals and their families, businesses and culture.”

Griffin, 55, turned to Philadelphia-based Gattuso Development Partners to consult on the project, filings show. The company’s co-founder, John Gattuso, worked on several projects with Comcast Corp. Griffin previously dropped Chicago-based Sterling Bay from the project.

Foster + Partners is handling the design of the Miami tower, which will also include waterfront retail and dining spaces, according to the filings, as well as a public pedestrian walkway along the water.