New Ferris Wheel?
This just seems like a bunch of nonsense - tear down a perfectly good attraction to build one 50 feet higher?
- Navy Pier's Ferris wheel, an icon of the Chicago lakefront, will be dismantled this fall and replaced by a taller ride featuring temperature-controlled gondolas that will be ready in time for the pier's 2016 centennial.
Pier officials and Mayor Rahm Emanuel were set to announce Tuesday that the new wheel will rise to a height of 196 feet, almost 50 feet taller than the current wheel. Still, the new wheel will be 68 feet shorter than the original Ferris wheel, which was built for the 1893 World's Columbian Exposition in Chicago.
The pier's new Ferris wheel also will not compete height-wise with others that have sprung up worldwide in recent years — such as the 550-foot-tall High Roller that opened last year in Las Vegas.
The Ferris wheel will cost $26.5 million, which includes construction and landscaping, said Nick Shields, a spokesman for Navy Pier Inc. Pier officials said public funds were not used to purchase the Ferris wheel, which has been privately financed by a loan from Fifth Third Bank to Navy Pier Inc. Shields declined to specify the terms of the loan.
Won't specify terms? Isn't this a public official speaking in a public capacity? That means that somewhere, somehow, someone is getting their palms greased and taxpayers are backstopping the terms down the line.
Labels: dumb ideas