Billionaire investor Ken Griffin is planning a private megayacht marina project in Miami Beach that will expand his footprint in South Florida. Griffin is the founder of Citadel. According to city filings, Griffin wants to build a marina where members could stay at 120 MacArthur Causeway. The eastern tip of Terminal Island is on the waterfront between South Beach and PortMiami.
Located in the southeast corner of the site, the new development of over 30,000 square feet (≈2,790 m²) will have a limited capacity to service superyachts for Griffin and guests. In total, the entire future development will cover an area of 3.7 acres (≈1.5 hectares). Griffin’s billion-euro real-estate project would expand further with this South Florida proposal.
A Billionaire’s Private Harbor
According to trade filings, Griffin bought the Terminal Island site at nearly $77 million (€71 million) in 2023. The project may be reviewed by the Miami Beach Planning Board on November 4, 2025. A total of four buildings are being created. They include a guardhouse with full security access. There will also be a lounge and rooftop pool at the owner’s pavilion. In addition, another pool will be constructed at the crew pavilion with a kitchen, laundry, gym, and sauna. The project will also include an operations structure that is fitted with repair facilities as well as admin offices.
The marina would create three to six deep-water berths large enough to accommodate megayachts that would be completely private and accessed via Government Cut in the Atlantic. According to Griffin’s proposal, his marina would be for the exclusive use of his guests, unlike the public marinas throughout Miami Beach.
Griffin’s Expanding Miami Empire
Ken Griffin is relocating to South Florida, and the new marina is part of his big plans. Since Citadel moved to Miami from Chicago in 2022, he has become one of the biggest private landowners in the region. In addition, he purchased numerous high-value plots in Brickell, Star Island, and Palm Beach, worth more than $1 billion (€930 million).
In 2023, Griffin acquired a waterfront site in Brickell valued at $363 million (€338 million) for Citadel’s new global headquarters. It was among the priciest commercial land deals in Miami history. He also has several luxury houses on the coast, including properties on Star Island and Coconut Grove. His personal portfolio of real estate assets is estimated at over $400 million (€372 million).
Griffin has called Miami the financial capital of the South on more than one occasion due to its favorable taxes, global links, and the region’s hedge funds, private equity, and tech firms. According to the proposal, the marina will be yet more proof of his endeavours to amalgamate business, investment, and lifestyle infrastructure.
Economic Impact for Miami Beach
Griffin’s megayacht marina could bring vital economic gains to Miami Beach. According to industry observers, construction and operation of a facility like this will create dozens of high-skilled jobs. A marine engineer, a dockmaster, maintenance staff, hospitality staff, and others are expected to help.
A local development of this size would add to municipal taxes, boost the value of property located around the waterfront, and further investment into luxury yachting. Businesses that provide marine fuel, repair services, and aftermarket solutions for yachts stand to gain.
Urban planners also say that this private investment is transforming Miami’s waterfront to become less of a resort destination and more of an international business and wealth centre.
Regulatory Path and Market Impact
Currently, in October 2025, Griffin’s marina is only a proposal to the city. Officials have not released a construction budget for the project, but whether or not the project receives a conditional-use permit will be determined at a Planning Board hearing in November. The property’s positioning within an industrial edge zone and proximity to PortMiami might raise questions. There are no local complaints so far about the business.
Only a handful of areas in Miami Beach have deep-water access suitable for superyachts, including Terminal Island. If Griffin’s plan is allowed to proceed, it will establish a new gold standard for top-of-the-line marina developments, lift waterfront land valuations up to $300 million (€279 million), and, perhaps most significantly, send an unmistakably clear message that Miami is ready to step up and cater to the demands of the superyacht industry.
Key Takeaway
Ken Griffin’s proposed megayacht marina shows how Miami is becoming a capital for the superrich, a place where finance, real estate, and lifestyle infrastructure come together. This project captures the scale and ambition transforming the coastline of South Florida — whether it receives final approval or not.
