After three consecutive terms in office, Mayor Bloomberg hopes to leave a lasting legacy on an island of New York City — Staten Island, to be specific. Later today, he will brag of his plans to renew the coast of the island and transform it into a retail complex complete with hotels and the largest Ferris Wheel on the planet.

The mayor’s office gleefully announced that the planned “New York Wheel” will measure in at 625 feet, taller than the London Eye, the impending Las Vegas ‘High Roller’ wheel, and 84 feet higher than Singapore Flyer, the world’s current tallest ferris wheel. The wheel is to be constructed slightly north of the Richmond County Bank Ballpark, and is estimated to draw in as many as 30,000 riders per day during the peak season (though it’ll take way more than a ferris wheel to get us to step foot on Staten Island). The entire project will receive $480 million private investments, and allegedly create over 1,100 permanent jobs.

According to Staten Island Borough President James Molinaro, “This wheel is a game changer for Staten Island… Going forward, Staten Island will be known as the Borough with the largest wheel in the world” – a welcome change from its current claim to fame as home to the majority of the Jersey Shore cast.

(Images: NYC Mayor’s Office/Flickr)