Miami's Newest Luxury Playground: A Billionaire's Dream Marina

In Miami, a billionaire is planning to build a private marina that's sure to turn heads. Ken Griffin, the CEO of Citadel, is behind this project. He's known for his lavish real estate investments. The marina, called One Island Park, will be huge. It will cover over 30, 000 square feet. Griffin already owns a lot of property in South Florida. His influence in the area is undeniable. The marina is set to be built on 3. 71 acres at the tip of Terminal Island. This spot is perfect for docking. It's between South Beach and Port Miami. The plans include parking for up to six megayachts. This means Griffin and his wealthy friends will have plenty of space to dock their luxury boats. There will also be facilities for staff. The site might even host events like Art Basel or the Formula One Miami Grand Prix. Griffin's real estate ventures are anything but modest. He's currently building a massive estate in Palm Beach. This property is expected to be one of the most expensive homes in the world. He started buying up land for this project back in 2012. Long before other billionaires like Jeff Bezos made headlines for their Miami purchases. In 2022, Griffin broke a Miami-Dade sales record. He bought a 4-acre estate in Coconut Grove for $106. 9 million. This property includes two waterfront houses with 12 bedrooms. His record was only surpassed this year by Russian billionaire Vladislav Doronin. Griffin also owns seven properties on Star Island. He's spent around $169 million on these properties since 2023. Griffin's impact on Miami's luxury scene is significant. His projects, like the upcoming Citadel headquarters on Brickell Avenue, are changing the city's skyline. The headquarters, spanning 1. 3 million square feet, is expected to cost around $2. 5 billion. This is due to inflation and a more fully developed site program. The Terminal Island property was acquired by Griffin through an LLC in 2023. He bought it for $77 million. The site was originally planned to host an office complex for the Related Group. Griffin's marina plan is still pending city approval. It's set to be reviewed in early November. Whether this marina will start a new trend in Miami remains to be seen. The location is ideal for deep-water docking. It's near the port, which supports large cruise liners and cargo ships. This makes it a unique spot for a megayacht marina.