Ken Griffin is advancing ideas for a $1 billion headquarters tower for his Citadel and Citadel Securities in Miami’s Brickell.
Architecture business Foster + Companions is building programs for 1 of the tallest towers in Miami that will include things like a significant-conclusion lodge on the prime flooring, while environmental testing on the site has begun, The Wall Road Journal noted, citing renderings viewed by the publication. The progress arrives almost a calendar year right after Griffin parted methods with would-be tower co-developer, Chicago-based mostly Sterling Bay. The separation was owing to Griffin’s worries more than whether Sterling Bay could finalize the challenge, in accordance to the Journal.
The headquarters will rise on a 2.5-acre bayfront great deal, at 1201 Brickell Bay Push, that Griffin acquired for a report $363 million in 2022. The top would be limited by Federal Aviation Administration limits, which cap Miami structures at 1,049 feet.
Griffin, a billionaire Florida native, moved his Citadel and Citadel Securities’ headquarters from Chicago to Miami in 2022. Until finally the new tower is developed, workers are doing work at leased area, which include at Southeast Fiscal Centre at 200 South Biscayne Boulevard in downtown Miami and in the long run, at 830 Brickell in Miami’s monetary district. Vlad Doronin’s OKO Team and Cain Global are creating the 55-tale 830 Brickell at 830 Brickell Plaza. Although the tower topped off in 2022 and it was slated for completion later on that yr, development however is ongoing.
Griffin’s wager on South Florida spans both industrial and residential buys. Also in Brickell, he purchased the 28-story 1221 Brickell Avenue business setting up for $286.5 million in 2022, and an apartment creating at 1250 Brickell Bay Generate in Miami and the adjacent vacant good deal at 1260 Brickell Bay Push for $20 million, combined, in 2022.
Very last summertime, Griffin also dropped $83 million for the three-story office creating at 125 Really worth Avenue in Palm Beach, following scooping up the adjacent professional residence at 151 Value Avenue.
In 2022, the billionaire also acquired Adrienne Arsht’s waterfront Miami estate at 3031 and 3115 Brickell Avenue in Coconut Grove for $106.9 million. The deal marked the initially one-loved ones dwelling sale in Miami-Dade County to prime $100 million.
— Lidia Dinkova
