It is official. The world’s tallest Ferris wheel will rise on Staten Island‘s waterfront. Today, New York City Council approved the New York Wheel, a mixed-use development project, designed by Perkins Eastman. The project will include a 100,000-square foot Terminal building in addition to retail, restaurants, open space, entertainment, and a 950-parking garage. The structure will implement green design strategies and  feature wind turbines and solar panels. Construction will commence in 2014 and be completed by 2016.