Ken Griffin appears to have big plans for the skyscraper he’s looking to build in Miami, Florida.
The billionaire founder of Citadel and Citadel Securities wants to construct a mixed-use skyscraper that towers 54 stories right on the waterfront in Miami’s downtown area, according to project plans filed this week.
The project plans for the tower, which is expected to have Griffin’s two financial firms as its anchor tenants, were earlier reported by The Wall Street Journal and Bloomberg.
“The development of this iconic, world-class tower … 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,” a Griffin spokesperson told FOX Business. “We are excited by the opportunity to work with our partners, city and county officials, and neighboring stakeholders as we revitalize the Brickell Baywalk for the benefit of Miamians and visitors alike.”
The project plans indicate the skyscraper’s square footage will total 1.7 million. Foster + Partners, which is based in London, is its design architect, according to the document.
Nigel Dancey, head of studio at Foster + Partners, said the tower’s “tapered form unifies its various functions, enhances structural efficiency, and creates an elegant market on the Miami skyline.”
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The building will boast a massive amount of both office and hotel space, per the plans.
The planned office space will account for roughly 1.29 million square feet across dozens of floors at high, mid and low-rise levels, the project plans said. Other companies are expected to take up residence in the tower along with Citadel and Citadel Securities, according to The Journal.
The project plans, meanwhile, currently have the hotel set to be located at the top of the 54-story building.
A person familiar with the project told FOX Business the hotel is expected to include “several food and beverage outlets, conference spaces, and a ballroom for large-scale events, as well as a pool, fitness facilities, and spa with panoramic views.” A letter of intent filed in connection to it said the hotel could have 212 hotel rooms.
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The uses of the proposed skyscraper “will serve the continued growth of the local and regional economics (e.g. by providing new office space to support both organic local growth and firms relocating to Miami),” the letter of intent posited.
The start of construction on the skyscraper is targeted for the third quarter of next year and will span multiple years, according to The Journal.
The filing of the plans for the building came over two years after Griffin revealed in 2022 he was moving the headquarters of Citadel and Citadel Securities to Miami. Prior to that, they had been in Chicago.
The two firms use office space elsewhere in downtown Miami at the moment. They also both have other offices in North America, Europe and the Asia-Pacific region, according to their websites.
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The success of Citadel and Citadel Securities has helped make Griffin, their founder, a billionaire.
Forbes pegged his personal fortune at $38.3 billion as of Thursday afternoon. That net worth makes him the 42nd wealthiest person in the world, according to the outlet.
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