Despite controversy, several delays, and a $30 million crowdfunding attempt, the New York Wheel is projecting major first-year revenue. According to The Real Deal, developers of the 630-foot Staten Island ferris wheel expect to bring in a staggering $127.85 million in 2017, a figure that will make it more lucrative than the Empire State Building’s observation deck, which raked in $111.5 million last year. Of the total revenue, $96 million is projected to come from admission fees (which come in at $35 a person, as compared to the Empire State Building’s $32); $10 million from sponsorships; and $8.7 million from gift shop sales. And if you’re impressed by these numbers, annual revenue will likely grow to $166.52 million by 2021!
New York Wheel
Hold on to your hats, folks! After countless delays, the New York Wheel is finally back on track. Architizer reports that workers are gearing up to break ground tomorrow, April 16th, on what is slated to become the world’s tallest observation wheel. Providing panoramic views of New York Harbor and the cityscape beyond, the 630-foot wheel located at the tip of St. George on northern Staten Island is primed to become one of the most epic ways to experience New York City.
If Staten Islanders have felt left out of the subway rat race all these years, they’ll soon be able to get in on the action without leaving their home borough. The developers of the massive New York Wheel–the 60-story Ferris Wheel on the Staten Island waterfront set to become the tallest observation wheel in the world–have announced that a simulated subway ride will be part of the waterfront complex.
Time Train, as it’s officially being called, will be a 4-D theater experience that will provide a visual tour of New York’s history with a focus on the harbor. Additionally, a webcam will be installed on the nearby Robbins Reef lighthouse to offer a 24-hour look at construction of the wheel, which will boast four mobile bar cars and a 20-seat restaurant. Groundbreaking for the wheel and its neighboring attractions–including a floating swimming complex, a hotel, and a large outlet mall–is set for 2015 with completion planned for 2017. To see more new developments happening on Staten Island, click here.
You won’t find any Staten Island jokes or snarky references to secession here. No, we’re celebrating the borough that so easily gets forgotten amid the shiny new towers of Manhattan and trendy culture waves of Brooklyn. But just because it might not make daily headlines, doesn’t mean that Staten Island isn’t in the middle of some pretty amazing developments. From the Staten Island Ferris Wheel to the borough becoming the next great tech hub, we’ve rounded up the cultural, economic, and architectural projects that are going to make you want to board the Staten Island Ferry in pursuit of your new home.