Citadel’s Miami HQ build halted after rig collapse
Construction of hedge fund major Citadel’s planned Miami headquarters in the city's Brickell financial district has been suspended after a rig collapsed at the site last week, according to a report by the Wall Street Journal.
Construction of Citadel's planned Miami headquarters in the city's Brickell financial district has come to a halt, following the collapse of a rig at the site last week, according to a report by the Wall Street Journal. The incident has led county authorities to issue a stop-work order while they investigate the accident. The exact cause of the collapse and the length of the suspension are still unknown.
The Wall Street Journal reported that such investigations can last several months. The rig fell on Monday, striking several vehicles and causing at least four people to be taken to the hospital with minor injuries, as per a statement from Miami's fire department. The developer of the project, Related Companies, announced following the incident that they are collaborating with city and county authorities to secure the site and ascertain the cause of the accident.
As of the time of the report, Citadel had not yet commented on the matter outside regular business hours.
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