A rig fell at the Miami construction site on Monday, and county authorities ordered work to pause while the incident is investigated, the Wall Street Journal reported Sunday, citing a local building official. There is no set timeline for resuming construction, and the WSJ noted inquiries like this can run as long as half a year.
The collapse crushed several cars, and the local fire department said at least four people were transported to the hospital with minor injuries. A spokesperson for developer Related Companies said the firm is collaborating closely with municipal and county regulators to make the site safe and to conduct a comprehensive investigation. Citadel did not provide a comment to Bloomberg right away when contacted outside regular business hours.
Brickell's skyline is crowded with cranes, with a wave of money managers and wealthy individuals fueling demand for offices and condos. Just a few blocks from the Citadel project, Banco Santander SA is putting up a new corporate tower.
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Citadel founder Ken Griffin has poured hundreds of millions of dollars into assembling the site and nearby parcels, and he is planning a multi-billion dollar tower there. He also intends to relocate a historic cottage at the site, which narrowly avoided being hit by the falling rig. Griffin is stepping up his Miami focus, expanding his Florida ambitions following a dispute with New York City Mayor Zohran Mamdani about the Democrat's proposal to levy taxes on high-value second homes. For locals watching the skyline, the pause spotlights how much is riding on Miami's building cycle and the big names backing it.
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