Ken Griffin is expecting to break ground next year on a 54-story tower in Miami that will serve as headquarters of his Citadel financial empire, enlisting a Philadelphia developer as a consultant on the project.

The proposed building at 1201 Brickell Bay Drive will have 1.7 million square feet, combining offices and a roughly 413,000-square-foot hotel on the upper floors, according to plans filed with Miami-Dade County on Monday. The waterfront project is expected to break ground in the third quarter of 2025, a spokesperson for Griffin said.