New York Wheel investors are report­ed­ly look­ing to bring a small­er ver­sion of the pre­vi­ous­ly failed New York Wheel to the same St. George neigh­bor­hood in Stat­en Island, accord­ing to an arti­cle by Jonathan Hilburg.

The New York Wheel orig­i­nat­ed dur­ing the Bloomberg admin­is­tra­tion, propos­ing a world-record-set­ting 630 feet in height. The project died in 2018 after start­ing con­struc­tion in 2015, as costs bal­looned beyond $1 bil­lion. 

From the ash­es of that fail­ure, how­ev­er, a new ver­sion of the project might rise, accord­ing to Hilburg:

With much of the foun­da­tion­al work already in place, and with the sur­round­ing devel­op­ment across the 8‑acre site still ongo­ing, New York Wheel LLC was forced to auc­tion off the already-man­u­fac­tured com­po­nents of the wheel in Jan­u­ary 2019. How­ev­er, the devel­op­er is still pay­ing rent and main­tain­ing secu­ri­ty on the city-owned lot.

Hilburg is pick­ing up on news orig­i­nal­ly report­ed behind a pay­wall at Advance/SILive.