A deep mixing rig collapsed at the Citadel headquarters construction site on Brickell Bay Drive in Miami's financial district around 8 a.m., crushing three cars and igniting a white BMW SUV. Miami Fire Rescue spokesman Pete Sanchez confirmed four people were hospitalized with minor injuries, including the SUV driver who escaped the flames and the rig operator. The accident occurred at the future site of Ken Griffin's multi-billion dollar tower, where the Citadel founder and CEO has invested hundreds of millions in land acquisition.

A historic cottage slated for relocation narrowly avoided damage. Citadel referred inquiries to developer Related Companies, which stated it is cooperating with city and county building departments to secure the site and investigate. Sanchez clarified the structure was a drilling rig, not a crane as initially reported.

The incident highlights Miami's Brickell construction boom driven by financial firms like Banco Santander SA, which is building a corporate tower nearby.