Billionaire Ken Griffin Seeks Approval For Florida’s Tallest Office Tower

Billionaire Kenneth C. Griffin, CEO of the Miami-based financial giant Citadel, is seeking Miami-Dade County approval for a 54-story office tower planned for the Brickell Financial District.

The proposed skyscraper, located along Biscayne Bay, would become Citadel’s new global headquarters and include additional office space, a hotel, and other mixed-use components. It is one of Griffin’s largest investments since relocating his business operations from Chicago to South Florida.

The Miami-Dade County Commission is scheduled to review the proposal on Nov. 20. The application, submitted by entities tied to Griffin—1201 Brickell Bay LLC, 1221 Brickell LLC, and 1250 BB Asset Co LLC—covers a 4.72-acre site at 1201 and 1260 Brickell Bay Drive and 1221 Brickell Avenue.

Developers are requesting a special exception under the Metromover Station Subzone, which allows for increased density near transit. They are also seeking permission to place the mixed-use tower closer to the Biscayne Bay shoreline than standard zoning allows.

The project would span 2.12 million square feet, including 1.485 million square feet of office space, 212 hotel rooms, 23,590 square feet of retail and restaurant uses, and 50 below-grade parking spaces. It would connect to a separate 1,420-space parking garage west of Brickell Bay Drive.

A county staff report notes that Griffin’s team has voluntarily offered a $3 million contribution toward traffic and stormwater improvements, including a new crosswalk and enhanced drainage. Staff have recommended approval.

Citadel officials did not comment on the proposal. The tower was designed by Foster + Partners in collaboration with AAI Architects.

In July, the FAA approved the building’s proposed height of 1,028 feet, which would make it the tallest office tower in Florida. Griffin assembled the development site in 2022 for $669.5 million.

The project comes as Griffin continues to champion Miami as a rising business hub. Brickell’s office market remains one of the strongest in the country, buoyed by new firms paying record-high rents. According to Colliers’ third-quarter report, Class A office vacancy in Brickell was 13.6%, with average asking rents at $92.92 per square foot. Year-to-date absorption totaled 138,160 square feet, and roughly 290,000 square feet of Class A space is currently under construction.

Source: SFBJ