$500M ferris wheel project may be in peril in New York City

NEW YORK -- The head of a $500 million Ferris wheel project on Staten Island says it could be scrapped unless proposed revisions are approved.

The Staten Island Advance says CEO Rich Marin made the remarks Wednesday after a city Planning Commission meeting.

Construction is already underway.

The New York Wheel project was approved by the city in 2013. It's now back in the public-review process because the developer has proposed changes, including the parking garage, power system and terminal. New plans would also shrink and relocate a public playground.

The 630-foot-tall observation wheel has been scheduled to open for business in 2017. Up to 1,400 passengers at a time would view the scenery of New York City, New Jersey and beyond during a slow-moving, 38-minute ride.