Plan in works for 500-foot, $100M Las Vegas wheel

Developer Howard Bulloch of Compass Investments released details of the project Monday to reporters, local lawmakers and business leaders at the site across Las Vegas Boulevard from the Mandalay Bay hotel-casino.

Bulloch wants the Skyvue Las Vegas Super Wheel to open in 2013 as part of a $100 million privately funded project also including a roller coaster and 200,000 square feet of retail, restaurant and entertainment space.

A rendering of the Ferris-style wheel shows its rotation perpendicular to the Strip. That means unobstructed views of the city's casino row from the 40 gondolas.

"Skyvue Las Vegas will complement both the hospitality and entertainment industries," Bulloch said in a statement. "This world class attraction fills a niche in our economic recovery, creating jobs and offering a new and unique entertainment offering for the tourist base."

Workers were to begin clearing the nearly 11-acre site on Monday, officials said. The project will require demolition of a motel that was built in the 1950s.

The 40 gondolas will each hold up to 25 passengers and they will be available to be rented out for private parties with catering and drinks, developers said.