(CNN) There's a $4.8-million piece of public art hanging underneath a Vancouver, Canada, bridge, and residents say it's distastefully positioned in an area formerly frequented by homeless people.

The Spinning Chandelier , designed by artist Rodney Graham, is and does what its title suggests: The 14-by-21-foot faux-crystal chandelier swivels rapidly, rising and falling over the course of 24 hours.

It's certainly a spectacle, but some passersby weren't sold on it when asked by CNN news partner CBC

"The price tag is way too high for what it is," retired artist Janice Rafael told CBC.

Head of public art for the City of Vancouver, Eric Frederickson, said he is bracing for criticism lobbed at the piece, but it should increase tourism to the "rough and functional space."

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