Ken Griffin is betting big on Miami

The new tower, which was designed by the firm Adrian Smith + Gordon Gill Architecture, will feature panoramic views of Miami, a luxury rooftop restaurant, and a fitness center, according to developers OKO Group.

CoStar News reported that the tower’s rent is upward of $100 per square foot.

Griffin stunned the financial world in 2022 when he announced he was moving Citadel from Chicago to Florida. He blamed Chicago’s crime rate at the time for the megafirm’s shift.

Griffin said in November that Miami could one day overtake New York as the premier financial hub in the United States.

“Miami, I think, represents the future of America,” he said, praising the state’s pro-business stances. Florida taxes are much lower than those in New York or Chicago.

Earlier this year, Citadel employees told BI that the city’s ample sunshine and less-stressful vibe made Miami a welcome change of pace.

Since moving the firm, Griffin has pumped millions into South Florida through donations to local programs.

Last September, he announced Griffin Catalyst, a Miami civic-engagement initiative building on his prior philanthropic work. Griffin Catalyst focuses on issues like charter-school expansion, free-speech initiatives, science and medical research, and the promotion of “the American dream” and economic mobility.

Griffin has also donated to local hospitals and groups, including a $50 million donation to cancer research for the Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine and $9 million for the area’s public schools to expand tutoring programs.

In total, the hedge fund manager has donated more than $300 million to South Florida causes, the South Florida Business Journal reported.