The developer working on the Brickell headquarters tower for Ken Griffin’s Citadel has revealed new details about the project in an interview with Commercial Observer.
Andy Gloor is the CEO of developer Sterling Bay, which is working with Citadel on the potential supertower.
Gloor told the website that his company was moving “as fast as we can,” on the project.
However, “there’s a lot to do” since “it will be a significant sized building,” so an estimated completion date for the tower was not yet known by Gloor.
When asked whether it will be connected to the nearby 1221 Brickell office building (also reportedly purchased by Citadel, Gloor said the new tower “stands on its own.”
The Miami market is continuing to see strong demand for top office space. Sterling Bay’s recently built 545 Wyn office building in Wynwood is expected to reach fully leased at the end of the first or second quarter, Gloor said.
Here’s what Citadel Billionaire Griffin said about the new Brickell headquarters complex in September:
- It is estimated to cost $1 billion
- The tower height could exceed 1,000 feet
- He wants to build retail and restaurants on the ground floor to bring foot traffic, similar to Brickell City Centre
- A helipad, marina, and windows that open to Biscayne Bay are planned
- It will be “iconic,” he said: “If it takes longer to fill the building, so be it. It’s more important to me to create the right environment to draw human capital that drives Citadel”
- Griffin plans to personally pitch some of the most valuable US companies, including Apple, to fill the new tower
- A computer science program could also be in the new complex, in partnership with a local university
- Completion is expected in 5 or 6 years
- Citadel’s Miami headcount is expected to reach 1,500 in 10 years
