STATEN ISLAND, N.Y. -- After obtaining approvals from the city Buildings Department (DOB) this week for site preparation, the first spin on the NY Wheel is now scheduled for early 2017.

Project CEO Rich Marin initially said the 630-foot observation wheel would open at the end of 2016.

"It's a very complicated process; a lot of things have to happen before construction can begin ... It has to do with the city, the MTA, etc ... It's all these things that need to come together at the same time before construction can commence," said Marin.

"It looks like we won't technically commence construction, which is when we get the shovel in the ground, until January (2015), rather than December (2014). This has to do with technicalities of our whole deal structure," he added.

According to a DOB spokeswoman, there has been a partial approval of the application to construct 820 parking spaces at 155 Richmond Terrace. Before work can start on Oct. 15, the actual permit needs to be obtained from the DOB's borough office, she said.

Site preparation of the temporary parking lot is scheduled to begin around Oct. 15, said Marin.

"We have been meeting with the city about prep work for the temporary parking. Just this week, we received the permit from DOB for the prep work ... Sometimes the best decision is to let things slide a few weeks to get things together the way it should be," he added.

Once built, the $230 million Wheel project will include spacious walkways, a great lawn and a stunning view from 60 feet above the harbor.

At night, visitors can expect the world's tallest observation wheel to be decked out in an array of colors that can be tailored to fit any occasion.

In total, the New York Wheel will create 350 construction jobs and 500 permanent, full-time positions.

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