A new glimmering glass tower is joining the Miami skyline.
Renderings have been newly revealed of multinational hedge fund Citadel’s new 54-story headquarters, which is set to break ground next year, the Wall Street Journal first reported.
Citadel’s founder, chief executive, and owner of the most expensive home in US history, the billionaire Ken Griffin, moved the company’s base from Chicago to Miami two years ago — motivated significantly by Florida’s corporate kindness and Chicago’s high crime rate.
(According to Wall Street Journal reporter Katherine Clarke’s 2023-published “Billionaires’ Row” book. Griffin purchased that roughly $240 million 220 Central Park South spread in 2019 to move Citadel’s operations to New York. That, however, was a year before COVID — and, like many, Griffin made the move to his native Florida after the virus arrived in America.)
Griffin filed 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 downtown Miami building less than a mile from its eventual new address.
Once complete, the skyscraping, 1.7-million-square-foot development is set to include not only Citadel’s new headquarters — but also additional office space it will lease to tenants, a rooftop hotel, a public waterfront terrace, two restaurants and possibly a dock, so hotel and restaurant patrons can enter directly from Biscayne Bay.
The hotel will have a separate lobby from the offices, and Griffin reportedly has plans to connect the structure’s terrace to the city’s long in-the-works vision for a multi-mile waterfront trail called the Baywalk.
As for the behemoth’s design, “The tower’s tapered form unifies its various functions, enhances structural efficiency, and creates an elegant marker on the Miami skyline,” Nigel Dancey, head of studio and senior executive partner at Foster + Partners, told The Post in a statement, adding that “An environmentally responsive facade draws on Florida’s vernacular architecture, with a louvered shading system to create a comfortable internal environment, while maximizing views out from this amazing location.”
The project is not slated to be finished for a minimum of five years and still requires public approvals before it is formally greenlit.
In all, it is anticipated to cost more than $1 billion and will be located on Brickell Bay Drive, according to the Real Deal.