The New York Wheel, a 630-foot Ferris wheel currently being built on the St. George waterfront on Staten Island, is $300 million over budget, according to a report in the New York Post, CRAINS reports. That brings the total cost of the project to nearly $600 million.
The attraction, which will let riders take a spin in one of 40 pods, was initially supposed to open early next year, but will now make its debut in 2018.
The companies behind the project had trouble raising money, a source told the Post, which contributed to the delays.
Probably the mafia is using this as a front and siphoning off lots of money
seems massively Overpriced
Duh. Any project that the corrupt City gets its filthy hands on, the costs always miraculously go up. Just look at the supposedly repair project that is allegedly slated for the BQE. Anyone with a have a brain knows that the City /State will keep raising the costs. The corruption just keeps on going. Thanx Mr. DeBlasio.