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The New York Wheel is back! Maybe. And it would be smaller.

EDC has held at least two recent meetings about reviving the failed project

A rendering of the New York Wheel (Credit: S9 Architecture | Perkins Eastman)
A rendering of the New York Wheel (Credit: S9 Architecture | Perkins Eastman)

Efforts are underway to try reviving the long-suffering New York Wheel.

The project’s developers announced in October that they were abandoning plans to build the 630-foot Ferris wheel on Staten Island, but the city’s Economic Development Corporation has held at least two recent meetings about reviving the development, according to NY1.

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The project would be closer to 443 feet than 630 feet and would use the foundation that has already been built. A new developer would take over the project.

CanAm Enterprises could be one impetus for bringing back the project, as it represents 412 foreign investors who contributed $206 million to the project for green cards under the EB-5 program. A new wheel would help those investors recoup their money.

The initial attempt to develop the wheel was plagued with cost overruns, lawsuits and long delays. Building a new wheel at the same site would likely speed up the long approval process that the first project went through. [NY1] – Eddie Small

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