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Great Wheel May Spur More Development

ORLANDO, FL-The $200-million attraction will have enough land left over for supporting projects.

By Carl Cronan | Updated on June 25, 2008

ORLANDO, FL-A 400-foot-tall observation wheel to be built among the nation’s leading theme parks could bring about other development within the surrounding area, according to those involved in the project. Great Wheel Corp. formally announced its plans Wednesday, nearly a year after buying 37 acres near Interstate 4 west of the city.

Florian Bollen, chairman of Singapore-based Great Wheel, unveiled the design for the $200-million project during an afternoon press conference at the International Plaza Resort & Spa, near the construction site for what is initially known as the Great Orlando Wheel. An 80,040-sf, glass-encased “terminal” will be built at the feet of the wheel, which will carry 24 stabilized cars on a half-hour circuit offering views of Central Florida up to 25 miles in every direction.

“This iconic attraction will come to be recognized as a window to Orlando, reflecting the unique culture and landscape of this vibrant destination to the millions of people that visit each year,” says Bollen, a German native whose company opened its first Great Wheel in Singapore in February. Construction of two other wheels, inspired by the slightly larger London Eye, is slated for global sites in Berlin and Beijing, and the one in Orlando will be exclusive to North America for many years to come.

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