Ken Griffin’s Mega Tower & the Rise of Public-Private Deals in South Florida

Ken Griffin’s Mega Tower & the Rise of Public-Private Deals in South Florida

In the November 26 livestream, Larry and John explored a wide range of major real estate developments and challenges reshaping South Florida, highlighting both the boom and the brewing headwinds. A recurring theme was how public-private partnerships (P3s) are becoming increasingly vital for cities unable to fund large-scale infrastructure or community-enhancing projects alone. These collaborations are bringing in deep-pocketed developers with a track record of delivering major builds, providing both capital and credibility to ambitious local plans.

Highlighted projects included the proposed Beckham Hotel near Hard Rock Stadium in Miami Gardens and a 21,509 sq. ft. water taxi terminal in Fort Lauderdale, featuring a rooftop event space and multiple amenities. In Doral, a massive 47-acre sports park is planned, while Homestead could see the $280M Padel X sports hub. Fort Lauderdale is also expecting a major content creation facility, Napster Studios, on a former Superfund site—an initiative expected to boost jobs and economic output.

One of the most eye-catching developments is billionaire Ken Griffin’s plan for a 1,000-ft, 54-story Citadel tower in Brickell, which would become the tallest in Miami and serve as Citadel's new global HQ. The project includes office, hotel, retail space, and a $3M infrastructure contribution.

However, the livestream wasn’t just about growth. Larry and John detailed how 12 development sites are in foreclosure or bankruptcy across the region due to high costs, rising interest rates, and sluggish rent growth. These include the Legacy Hotel at Miami Worldcenter and Magnolia Park. Meanwhile, Florida’s commercial property insurance market has surged past national averages due to frequent storms and litigation costs, complicating the commercial landscape.

The episode also touched on Larry Ellison’s purchase of Lion Country Safari, highlighting ultra-wealthy individuals buying iconic South Florida properties. Other points included a controversial luxury condo proposal in Fort Lauderdale set to replace a beloved waterfront hotel, and a national study linking declining home values to airplane noise—an important note for buyers near small airports like in Pompano Beach.

Finally, the livestream wrapped with updates on the ambitious redevelopment near Fort Lauderdale’s Galleria Mall. A new eight-story mixed-use project called The Residences at Bayview will bring in 259 residential units, retail space, and community amenities—contributing to the area's future walkability and vibrancy.
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00:00 0 South Florida’s top public-private partnerships of 2025
02:55 Billionaire Ken Griffin seeks approval for Florida's tallest office tower
05:10 12 South Florida development sites in bankruptcy or foreclosure
08:13 Billionaire Larry Ellison buys Lion Country Safari for $30 million
09:22 Fort Lauderdale hotel could be demolished for a luxury condo
10:29 How airplane routes and noise affect home prices
13:27 Developer seeks density boost for Fort Lauderdale development near Galleria
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