Billionaire CEO gets green light to build a base in Brickell, with public access
Ken Griffin, the billionaire founder and CEO of the hedge fund Citadel, is another step closer to getting his tower in Brickell.
The Miami-Dade County Commission voted unanimously on Thursday to approve plans for Citadel’s planned global headquarters, at 1201 Brickell Bay Dr. The bayfront development will include a 54-story tower with office space, a hotel, restaurants, stores and retail, a gym, and also feature a publicly accessible waterfront pedestrian path.
On Thursday, the County Commission granted a zoning variance that will allow the project to be built 40 feet from Biscayne Bay instead of the typically required 50 feet.
“We are pleased that the commission approved our plan for 1201 Brickell and look forward to bringing our vision for a world-class tower that will redefine the Miami skyline and revitalize the Brickell Baywalk to life,” Citadel said in a statement.
Construction on the project is expected to begin in the first quarter of 2026.
Griffin, whose net worth is around $50 billion, moved Citadel from Chicago to Miami in 2022. The move was celebrated in Miami’s business circles for bringing the city closer to its goal of becoming a financial capital.
READ MORE: What will be inside billionaire Ken Griffin’s 54-story Miami tower? You may even benefit
“Citadel has helped reinforce Miami’s emergence as a global center for finance, technology and innovation,” P.J. Campbell, the vice president for governmental affairs for the Greater Miami Chamber of Commerce, said at Thursday’s meeting. “Citadel’s impact extends well beyond its own footprint.”
Neisen Kasdin, the attorney who presented the plan, said the development will be a $2.5 billion investment. Kasdin also highlighted Griffin’s philanthropic involvement in South Florida.
Since moving his company to Miami in 2022, Griffin has donated $335 million to local philanthropies and charities, Kasdin said. Griffin, who is a major donor to the Republican Party, has donated millions to several Miami-area hospitals and the Vizcaya Museum. He has also supported charter school initiatives in Miami.
READ MORE: Citadel CEO Ken Griffin donates $15M to Mount Sinai. What it means for patients
New County Commissioner Vicki Lopez, who represents and lives in Brickell, praised the project on Thursday and thanked Citadel for the “community benefits” she expects this development to bring.
As part of its proposal, Citadel had promised to contribute $3 million to improvements to the nearby Metromover, the light rail system that circles the downtown area. Lopez, a former state legislator, asked if the developers would consider increasing that contribution to $4 million. Kasdin agreed to the request, and the project was approved.
The project site, which is in the city of Miami, is part of Miami-Dade County’s Metromover Rapid Transit Zone. That designation — intended to promote high-density, transit-oriented development — means zoning proposals for the project must go before county commissioners instead of city commissioners.
The Citadel proposal faced little resistance from county leaders. Commissioner Oliver Gilbert called this project “important ... to who we have to become as a community.”
Not everyone was thrilled by the decision to give the green light. The development has been controversial among condo owners in nearby buildings, some of whom spoke during public comments on Thursday. Residents of the condo building Jade at Brickell requested the vote be delayed to give them more time to resolve disagreements with the developers.
Residents of the nearby Solaris at Brickell Bay condo building told the Miami Herald earlier this year they were facing pressure to sell their units from a buyer they believed was connected to Griffin. Solaris is located among the lots Griffin purchased to build the Citadel headquarters.
Florida condo law says a condo association can be terminated with 80% owner approval. That means an outside buyer could terminate an association if it buys more than 80% of the building’s condos. The building’s management did not respond to an email from the Miami Herald on Thursday asking whether the condo association will be terminated.
This story was originally published December 19, 2025 at 5:08 PM.