Citadel’s Miami HQ Construction on Hold After Accident, Report Says

Construction work on Citadel’s new headquarters in Miami has been paused following an accident on the site last week, the Wall Street Journal reported. The collapse of a rig last week prompted county authorities to issue a stop-work order pending an investigation, according to the newspaper, which cited a local building official. It’s unclear how long the stoppage will last or what caused the accident, the WSJ wrote on Sunday, adding that such probes can take up to six months. Citadel didn’t immediately respond to a Bloomberg request for comment outside of regular business hours. The rig crushed several cars, resulting in at least four people being taken to the hospital with minor injuries, the local fire department said on Monday. A spokesperson for project developer Related Companies said at the time that the company is fully cooperating with city and county building departments to secure the site and conduct a full investigation. Miami’s Brickell financial district is undergoing a construction boom, with cranes dotting the skyline as an influx of money managers and wealthy individuals drives demand for office space and condos. A few blocks from the Citadel site, Banco Santander SA is also erecting a new corporate tower. Citadel founder Ken Griffin has spent hundreds of millions of dollars buying the land and adjacent properties at the site of Citadel’s future base, where he’s planning a multi-billion dollar tower. The hedge fund billionaire also wants to relocate a historic cottage — which narrowly escaped the rig collapse — to make way for his growing empire. Griffin is doubling down on Miami, expanding his ambitions for Florida after clashing with New York City Mayor Zohran Mamdani over the Democrat’s move to tax high-value second homes. Copyright 2026 Bloomberg. Topics Construction Was this article valuable? Thank you! Please tell us what we can do to improve this article. Thank you! % of people found this article valuable. Please tell us what you liked about it. Here are more articles you may enjoy.