- Associated Press - Thursday, June 2, 2016

NEWPORT, Ky. (AP) - Newport on the Levee, the city of Newport and a St. Louis-based company have reached a deal to build a Ferris wheel along the Ohio River.

News outlets report that Koch Development expects to spend more than $10 million to build the 235-foot-tall SkyWheel attraction at the northern Kentucky riverfront destination and begin operating it in the summer of 2017.

The SkyWheel will feature 30 six-person, glass-enclosed gondolas, including one VIP gondola. Passengers will take three to four rotations during their 10-to-12-minute ride.

Koch Development Managing Director Matthew Stack says construction on the Ferris wheel can begin after the company receives final approval from the U.S. Army Corps of Engineers, which regulates all construction projects along the river.

Stack estimates the attraction could draw about 500,000 riders annually.

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