New York – A giant Ferris wheel that was supposed to lure tourists to New York City’s least populous borough has been grounded.
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A spokeswoman for the New York Wheel developers confirmed Tuesday that the 630-foot (192-meter) wheel planned for the Staten Island shorefront “will unfortunately not come to fruition.”
The developers have been battling contractor Mammoet-Starneth in court since the project was halted in May 2017. Four 100-ton pedestals are all that’s been erected at the site to date.
The New York Wheel was one of several giant Ferris wheels planned for sites around the world following the success of the 443-foot (135-meter) London Eye.
A total of $450 million in private funds had been invested in the wheel. Some $206 million came from EB-5 investors hoping to win U.S. citizenship.
More frivolous lawsuits that Kill jobs . Job well done liberals .
Stupid country . We keep on loosing .
So very sad
Sorry Meir to see your dream go up in smoke, you can still buy the lottery tonight and start over again with you winnings
Well Americans no longer build neat stuff.
What does this have to do with either party? The wheel was a useless tourist trap that was not needed. The cost to build was $250 million without overruns. It ballooned to a BILLION dollars. We are better off without it. Use the money to build something that is useful.