Remember when we came at you with the spectacular news that there'd be a giant ferris wheel making its way to Staten Island?

Well, the project is entitled The New York Wheel, and its set to stretch 630 feet into the air. This will render the blast of a wheel one of the tallest in the world, not to mention that it'll completely enhance Staten Island's shoreline.

New York officials' dearest hope for the New York Wheel is that it'll entice tourists to actually leave the Staten Island Ferry after their beautiful, free ride rather than just re-embarking and heading back to Manhattan.

But now, news has hit the Wheel's innovators are seeking $30 million in crowdfunding, according to The New York Times.

The wheel's project leaders have already raised $450 million for the project in equity and debt. 

They plan on acquiring another $30 million through North Capital Private Securities, a Utah broker-dealer that's planning to sell its shares via the 99Funding online crowdfunding platform, in addition to other crowdfunding sites.

This feat is possible under a JOBS Act provision that was enacted in 2013, which allows private stock sales to "accredited" wealthy investors who meet income or net worth tests.

That means the average person can't really invest. This crowdfunding is much more extensive than dropping $6 or $7 dollars for your crush's garage band.

Jim Dowd, Founder and Chief Executive of North Capital, said he believes the New York Wheel Project will be "the largest transaction we're aware of that has crowdfunding."

In fact, Dowd said he plans to set the minimum investment size at $5,000 to $10,000.

Via The New York Times

We're super stoked about this project and we really can't wait to ride the ferris wheel. But when it comes to an investment that size, we have to admit we going to have to opt out. 

Construction on the Ferris wheel, however, has already started. 

It begun in May, after the project raised $195 million in senior debt from the Highbridge Capital Management hedge fund unit of JPMorgan Chase and an additional $150 million in additional debt from CanAm Enterprises.

Provided the investors come fast, we should be all giddy with Ferris wheel bliss extremely soon. At least, we hope we will. 

Check out 10 Awesome Reasons You Should Take the Ferry to Staten Island. 

[via The New York Times]