I like the idea and look forward to seeing the proposal. It seems the most recent trend has been giant Ferris Wheels and now they are ubiquitous - from Atlanta to Seattle. This attraction will gives the height without the ground area a Ferris Wheel takes up (which has to be as wide as it is tall). If it could include an observation deck it would be even better because I am getting too old to ride stuff like that.
For comparison sake, here is a roller coaster set to anchor a new development in Orlando.
And not to be out-done, here is the Orlando Wheel
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