Related Cos. to Co-Develop Citadel’s $1B+ Miami HQ

📍 Massive Development: Ken Griffin’s Citadel is partnering with New York-based Related Companies to build a $1 billion-plus, 54-story skyscraper at 1201 Brickell Bay Drive.
📊 Mixed-Use Design: The 1,032-foot tower will include 1.3M sq. ft. of premium office space, 212 hotel rooms, dining for 915 guests, and wellness amenities.
🏙️ Skyline Impact: The Norman Foster-designed tower will be one of Miami’s tallest buildings and a flagship for Citadel’s new Miami headquarters.

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Billionaire hedge fund manager Ken Griffin is making waves in Miami’s real estate scene. Teaming up with Related Companies, CEO Jeff Blau and President Bruce Beal Jr., Citadel’s new $1 billion-plus headquarters will take shape as a 54-story, mixed-use tower in the heart of Brickell. Designed by Norman Foster’s Foster + Partners, the skyscraper will blend office, hospitality, and leisure spaces to transform the 1201 Brickell Bay Drive site into a landmark destination.

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The Tower: Design and Features 🏗️

Architectural Vision: Designed by Foster + Partners, the 1,032-foot skyscraper will be a striking addition to Miami’s skyline. Key elements include:

• Office Space: The first 34 floors will offer 1.3 million square feet of premium office space tailored to Citadel’s needs.
• Hospitality: The top levels will house 212 luxury hotel rooms.
• Amenities:
  • Dining: High-end restaurants with seating for 915 guests.
  • Wellness: A 5,239-square-foot health and spa center for relaxation and recreation.
  • Community Spaces: Open areas designed for socializing and leisure.

This ambitious project reflects Miami’s shift toward mixed-use developments that integrate lifestyle and business.

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Griffin’s Growing Miami Footprint 💼

Ken Griffin has been on a real estate shopping spree in South Florida:

• 1201 Brickell Bay Drive Acquisition: In 2022, Griffin’s entity purchased the site for $363 million, setting a local record.
• Adjacent Properties: He followed up by acquiring nearby sites for $20 million, with plans for future development (potentially condos or apartments).
• Portfolio Value: Griffin’s Miami real estate investments now exceed $1 billion, underscoring his long-term commitment to the region.

This project isn’t just about creating a headquarters—it signals Citadel’s strategic investment in Miami as a financial hub.

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A Shifting Partnership and Development History

• Early Plans: Citadel initially partnered with Chicago-based Sterling Bay, but the collaboration ended in 2023.
• Related Companies Steps In: With a track record that includes 50 Hudson Yards in NYC, Related took over, solidifying its role as a major player in Miami.
• Foster Collaboration: This marks another high-profile partnership between Related and Foster + Partners, reinforcing their reputation for iconic urban projects.

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Impact on Miami’s Skyline and Real Estate Market 🌆

• Skyline Transformation: At 1,032 feet, the tower will be among Miami’s tallest buildings, signaling Brickell’s evolution into a global financial hub.
• Related’s Local Momentum: In addition to this project, Related has explored other developments, including the inactive One Brickell City Centre venture with Swire Properties.

Miami’s real estate market continues to attract global investment, with luxury mixed-use developments like this drawing top-tier tenants, residents, and visitors.

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Ken Griffin’s collaboration with Related Companies is set to reshape Miami’s real estate and skyline. This billion-dollar project exemplifies the city’s rise as a center for finance, luxury, and innovation. As Miami grows, investors should keep an eye on these transformative developments that are redefining the city’s identity.

📈 Takeaway: With its ambitious scope and prime location, this project cements Miami’s place as a magnet for top-tier investment and urban growth.