According to a report in the Staten Island Advance, Staten Island, New York's third largest borough, could play host to the world's largest ferris wheel.

The New York City Economic Development Corporation (EDC) has apparently been in talks with "a company" to bring a 600-foot (183-m) wheel to a site near the ferry terminal. If accurate, the plans could spell the end of the 541-foot (165-m) Singapore Flyer's reign as the world's tallest Ferris wheel.

A super-sized observation wheel could provide an economic boost to the area, assuming the wheel were to emulate the success of similar attractions including the Flyer and the London Eye, both of which have proven successful at pulling in tourist dollars.

The Advance reported in June that two sites, currently used for parking, are being eyed for redevelopment. The parking at the proposed site of the wheel would need to be replaced. High end retail is apparently being considered for the second site, to be built on stilts above an existing parking lot, which would remain.

The Wall Street Journal reported that the EDC has been "in negotiations with multiple respondents" regarding development at the two sites. "It's really hard to think of another place in New York City that has fallen so short of its potential for economic development," Jonathan Bowles of the non-profit Center for an Urban Future told The Journal. "There's no reason why you can't get significantly more tourists to stay on Staten Island for half an hour, or an hour."

The City Council would have to approve any such plans before work on a Staten Island ferris wheel could begin.

Sources: Staten Island Advance, Wall Street Journal, via Arch Daily