Every year, the City of New York attracts many visitors but it is soon to experience a drastic increase in tourist traffic with the underway plan to build the world's tallest Ferris wheel. With a projected height of 625 ft (190 m), it will be a staggering 84 ft (25 m) taller than Singapore Flyer that currently holds the record of the tallest Ferris wheel in the world. This magnificent wheel is to be built on the Staten Island waterfront along with a large hotel complex.
A deal to start the construction has already been made between the Mayor's office and an investor group named New York Wheel, LLC. According to reports from the New York Mayor's office, the tallest ferris wheel is set to draw approximately 4.5 million visitors a year. To be able to serve the high number of visitors, it will be open to the public throughout the year and will only be closed in case of adverse weather conditions.
It will be designed to have 36 capsules, each with a capacity of 40 passengers. The magnificent size will make it possible to be having 30,000 rides on a daily basis. With its great size the visitors will be taking 30 minutes to complete a single ride.
The construction is set to begin at the start of 2014 at a total estimate cost of $230 million dollars. Much of the preparations are however currently underway. A large retail complex named the Harbor Commons will also be constructed next to the wheel, covering an area of 350,000 sq. ft. A 120, 000 sq. ft hotel is also to be constructed inside the complex. This complex will house hotels, restaurants, a theater space and designer outlets.
The positioning and design of the complex will provide a magnificent view of the beautiful Manhattan Skyline while the free ferry ride from Manhattan will provide more traffic of tourists to the wheel as the tourists visiting the Statue of Liberty will be having a taste of the wonderful view of the Ferris wheel from a distance.
The construction is set to be complete by 2015 with the grand opening taking place thereafter. There is no doubt what all news headings will read on the grand opening day, after the completion of construction come 2015.
The New York Ferris wheel will definitely join the list of world's greatest structures outdoing other world Ferris wheels and make its way into the world record books. New York will never be the same again. Close to 1,100 permanent jobs will be created and further 1,200 construction jobs will be available boosting the economy of the city as a whole.
The large complex will be providing revenue of $2.5 million that will be paid to the city in terms of rent. Tickets for a ride on the tallest ferris wheel will also generate a high amount of revenue and are expected to record high sales. With this amount of revenue being pumped in yearly, the developments will be felt in almost every other areas of New York.
The city of New York suffered a blow in 2012 when Hurricane Sandy, commonly referred to as Sandstorm Sandy, struck. The storm is estimated to have caused damages of close to $18 billion with the flooding of the New York City Subway, roads, destruction of property and displacement of people. The storm also interrupted ferry services for days and the three major airports in New York were all closed.
Some of the effects of the storm are still being felt now. After such a big catastrophe, it is the view of many that the construction of the Ferris wheel will greatly help New York recover economically while providing more revenue that will enable more precautions to be taken in case of such a storm. Given that the location of the tallest Ferris wheel's construction site is just several miles away ffrom the hardest hit areas, necessary safety measures have been taken by the engineers. All the electrical and mechanical equipment will be put at 30 feet above sea level while the wheel will be built in a way that it can be able to withstand winds of up to 129 mph. This will make it the strongest Ferris wheel in the world and also one of the safest ones. Some changes have also been made in the construction plans to ensure that it is storm proof.