WRE News: Ken Griffin Proposes $1B Mixed-Use Supertall Tower in Brickell

Miami, FL – July 25, 2024 – Billionaire Ken Griffin is advancing a $1 billion-plus mixed-use tower project in Brickell’s Financial District.

Griffin’s attorney submitted a pre-application for sites at 1201 Brickell Bay Drive, 1221 Brickell Avenue, and 1250-1260 Brickell Bay Drive. The new development will house the headquarters for Citadel and Citadel Securities, including office spaces, a luxury hotel, retail outlets, food and beverage venues, and parking, adhering to Miami-Dade County’s rapid transit zoning regulations. Norman Foster’s architecture firm Foster + Partners is the architect, with Philadelphia’s Gattuso Development Partners collaborating on the project.

In 2022, Griffin and Citadel-related companies spent around $670 million acquiring the 4.2-acre Brickell assemblage, including a record $363 million for a 2.5-acre bayfront lot. Additional purchases included a 28-story office building at 1221 Brickell Avenue and a combined lot at 1250-1260 Brickell Bay Drive.

The project’s height will be capped at 1,049 feet due to FAA restrictions, and Citadel is also expanding its office presence in nearby developments.