Hedge fund Citadel has finally presented a real estate project for its property at 1201 Brickell Bay Promenade.
Representatives of the A $51 billion fund submitted a real estate project to the Miami-Dade County an office building that includes a tower for offices, a hotel and shops, as well as a health center and a gym, as reported by the local press.
Neisen Kasdin, co-manager of the law firm Akerman in Miamifiled a request Friday to meet with county officials to discuss the process for approving projects within a rapid transit zone. The regulation, administered by the county, allows for higher density and reduced parking requirements for projects near transit stops, according to Bisnow.
The company moved its headquarters from Chicago in 2022 after its founder, Ken Griffin, relocated to South Florida.
The Citadel spent a a record $363 million in April 2022 to acquire the 10,000-square-meter waterfront site in Miami’s financial district. The hedge fund purchased the property through a Chicago-based entity.
“I am thrilled to have recently relocated to Miami with my family and look forward to rapidly growing Citadel in such a diverse and vibrant city,” Griffin wrote to employees in 2022, announcing the move in a memo reported by international news agency Reuters.
The company employs approximately 4,000 people in 17 offices worldwide, including 1,000 at its headquarters in Illinois.
Citadel executives have expressed concerns about crime in Chicago, Reuters reported.
