MIAMI (VINnews)-Hedge fund billionaire Kenneth Griffin has updated his ambitious plans for a supertall headquarters tower in Brickell, further expanding his bet on Miami as a financial hub.

The revisions to the project at 1201 Brickell Bay Drive include converting the proposed mixed-use supertall into a larger all-office building by removing the hotel component, according to filings and statements from Citadel. Griffin, founder and CEO of Citadel and Citadel Securities, announced the changes in early May amid tensions with New York City leadership, stating the need to “double down on our bet in Miami.”

Recent updates also add a 300-unit apartment building and a 1,420-space parking garage to the development, alongside another office building owned by Griffin. He has acquired all units in the 22-story Solaris condominium across the street, with plans to demolish it for future expansion.

The 54-story tower, designed by Foster + Partners, is expected to total about 1.7 million square feet of office space. Citadel and its sister company plan to occupy roughly one-third of it. The overall project is estimated at $2.5 billion.

Site work is underway, with vertical construction anticipated later this year. The development continues to include public waterfront access and aims to reshape Miami’s skyline while supporting the city’s growing status as a finance center.

Griffin relocated Citadel’s headquarters to Miami in 2022.