Citadel’s CEO, Ken Griffin has submitted proposals, for the construction of a 1,032 foot headquarters in Miami for the hedge fund. The design includes a tapering structure featuring office spaces on levels and a hotel on the floors. Plans indicate that the tower will be located at 1201 Brickell Bay Drive offering 1.3 million square feet of office space and 212 hotel rooms across its 14 levels as per documents filed with Miami Dade County on Monday.
Personal Oversight by Ken Griffin
Griffin is overseeing the development of this project personally for Citadel and Citadel Securities, both of which announced their move to Miami in June 2022. A spokesperson for Griffin confirmed via email that construction is set to begin in the quarter of 2025.
According to the spokesperson establishing this tower at 1201 Brickell will redefine Miamis skyline. Reinforce its status as a global hub for professionals, families, businesses and cultural activities.
The proposed Citadel’s new headquarters in Miami, crafted by Foster + Partners based in London will feature a lobby on the ground floor along with 50 parking spots designated for executives. Additionally, plans include constructing an eight level parking garage across, from it at 1221 Brickell Bay Drive as outlined in a letter submitted to county officials.
Aesthetic Features and Functionality
The glass encased tower spanning 54 stories will be adorned with white metal cladding to create an aesthetic.
The lower level of the building will feature a restaurant area while the next floor up will be dedicated to hosting conferences, in a ballroom setting complete with its kitchen and outdoor terrace. Office spaces will be situated from the fifth to the thirty floors, topped by two levels designated for hotel operations. The hotels main entrance and facilities will occupy the three floors of the tower with guest rooms spanning from floors forty to fifty one.
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Design of the Citadel’s new headquarters in Miami
According to Nigel Dancey, head of studio at Foster + Partners “The towers tapered design brings together its functions improves efficiency and serves as a distinctive landmark on Miamis skyline.” He added that “A facade designed to respond to factors takes inspiration from Florida’s architecture featuring a louvred shading system that ensures a pleasant indoor environment while making the most of the stunning views from this location.”
Baywalk and Landscaping Improvements
Additionally, Citadel’s plans for the new Miami headquarters project include creating a Baywalk along part of Brickell Bay’s waterfront that was previously inaccessible. This revamped area is set to offer restaurants with seating options. Field Operations, known for their work on projects like New York City’s High Line and Miami’s Underline are responsible, for designing the Baywalk as overseeing landscaping and streetscape improvements.
Neisen Kasdin of Akerman law firm submitted the application on behalf of Griffin to the county office.
Griffin ranked as the person globally aims to leverage local rapid transit regulations controlled by the county to raise the height and density of a proposed waterfront tower, near the Financial District Metromover station.
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Griffin’s Vision for Citadel’s Miami Headquarters
The recent application provides insight into Griffins vision for Citadel’s new headquarters in Miami. Last month his team submitted a proposal to the county outlining their overall strategy for two designated areas, including an additional connected plot suitable for residential construction albeit without any visual representations.
Griffin has enlisted the services of Gattuso Development Partners based in Philadelphia to advise on this new Citadel’s headquarters in Miami venture as confirmed by a spokesperson. Initially collaborating with Chicago’s Sterling Bay on this endeavor the hedge fund parted ways with them April.
In April 2022, Citadel made headlines by investing a $363 million to secure the 2.5-acre waterfront location earmarked for the towers construction. Two months later they further shelled out $287 million to purchase a 21-story building across from it with plans, for a parking facility.
Expanding its property portfolio in Brickell in August 2022, Citadel acquired a 12 unit apartment complex at 1250 Brickell Bay Drive for $20 million situated between their tower and parking structure.
Citadel and Citadel Securities are expected to have, around 500 staff members in Miami by the end of this year as per the spokesperson.
While its new Miami headquarters is under construction, Citadel will operate from the soon-to-be-completed 830 Brickell office tower. The investment firm secured two floors in June, establishing its presence as the primary tenant, with 130,000 square feet spanning eight floors.
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