Billionaire hedge fund titan Ken Griffin unveils plans for Citadel’s Miami headquarters

A gleaming new glass tower is joining the Miami skyline.

Renderings have been newly revealed of the new 54-story headquarters of multinational hedge fund Citadel, set to open next year, the Wall Street Journal first reported.

Citadel’s founder, CEO and owner of the most expensive home in US history, billionaire Ken Griffin, moved the company’s base from Chicago to Miami two years ago – motivated significantly by Florida’s corporate bona fides and the scale of high crime in Chicago.

(According to Wall Street Journal reporter Katherine Clarke’s 2023 book Billionaire’s Row. Griffin purchased the $240 million 220 Central Park South spread in 2019 to relocate Citadel’s operations to New York. However, this it was a year before COVID—and, like many, Griffin made the move to his native Florida after the virus arrived in America.)

Griffin unveiled plans for the mixed-use Miami project — to be designed by Foster + Partners — on Monday, according to the Journal.

Currently, Citadel operates out of a building in downtown Miami less than a mile from its potential new address.

Once complete, the skyscraper, 1.7 million square foot development will include not only Citadel’s new headquarters – but also additional office space that will be leased to tenants, a rooftop hotel, a public waterfront terrace to the sea, two restaurants and maybe a bank. , so hotel and restaurant patrons can enter directly from Biscayne Bay.

The hotel will have a lobby separate from the offices, and Griffin reportedly has plans to connect the structure’s terrace with the city’s long-in-the-works vision for a multi-mile waterfront path called the Baywalk.

As for the behemoth’s design, “The tower’s sleek form unifies its various functions, enhances structural efficiency and creates an elegant marker on the Miami skyline,” Nigel Dancey, head of the studio and senior executive partner at Foster + Partners. a statement, adding that “An environmentally responsible facade is based on Florida’s vernacular architecture, with a felt shading system to create a comfortable interior environment, maximizing the views of this stunning location.”

The project is not scheduled to be completed for at least five years and still requires public approval before it can be officially given the green light.

Overall, it is expected to cost more than $1 billion and will be located on Brickell Bay Drive, according to The Real Deal.