Ken runs arguably the most successful (at least in the past 48 months) large hedge fund in the United States. He was formerly a massive donor to the Democratic Party and the largest (I repeat the largest) philanthropic donor (by dollar volume) in Illinois.
So what did I governor do? Alienate Griffin with a host of corporate tax increases, real estate tax increases and unsafe crime prevention. The two also went at it pretty vigorously in the Chicago Newspapers.
Of course, Florida put out an olive branch to Citadel and other businesses looking to avoid getting kicked in the nuts.
Ken Griffin Reveals Plans for Citadel’s Miami Headquarters
Glass tower expected to include two restaurants, a rooftop hotel and a public waterfront terrace
By Deborah Acosta, WSJ
Aug. 26, 2024 12:31 pm ET
MIAMI—Citadel’s gleaming new 54-story glass tower in Miami will include two restaurants, a rooftop hotel, a public waterfront terrace and perhaps a dock that would enable hotel and restaurant guests to arrive via Biscayne Bay.
Ken Griffin, the founder and chief executive of Citadel who moved his headquarters to Miami from Chicago in 2022, plans to break ground on the 1.7 million-square-foot project in the third quarter of 2025. The hedge fund and its sister firm, Citadel Securities, currently are located in a building in Miami’s downtown less than 1 mile from the development site.
Griffin filed plans for the project, designed by Foster + Partners, with Miami-Dade County on Monday. The building, which is expected to take five or more years to build, needs to get public approvals before it proceeds.
The plans describe a range of amenities but don’t mention a dock. People familiar with the project confirmed they are working through including access to the building by boat.
The new development will be the latest addition to the Miami skyline, which has been reshaped in recent years by the migration of businesses to Florida for its low taxes and business-friendly government policies. When Griffin, a billionaire who lives in Miami, announced plans to move there, he cited Chicago’s high crime rate and Florida’s better corporate environment.
Citadel employs 4,600 workers and is planning to expand in London and New York. The company isn’t planning to occupy all the office space in its new Miami headquarters. Some of it will be leased to other tenants.
Gattuso Development Partners, which developed the Comcast headquarters in Philadelphia that includes a Four Seasons hotel at the top, has been consulting on the project.
Plans for the Miami building call for two separate lobbies for the office space and hotel space. Griffin plans to connect the public terrace to the city’s Baywalk, a 5-mile waterfront trail envisioned by the city.
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