Called the Capital Wheel, DC area's new upcoming attraction will be situated right over the waters of National Harbor.

Visitors to DC may soon get another vantage point to enjoy the city. Called the Capital Wheel , it will be situated right over the waters of National Harbor.

If everything goes as planned, the observation wheel that stands about 175 feet tall will offer panoramic views of the White House, Potomac River, Arlington County and the Washington monument.

Basically the $15 million ride will provide overhead views of almost everything tourists in D.C. hope to see. The Ferris wheel was inspired by other similar attractions like the London Eye.

As of now, developers are hoping to complete the project by the late Spring of this year. The real estate mogul behind National Harbor, Milt Peterson said “When you have a place like National Harbor or Washington, you need new things, iconic things. Not piddly things. “

Peterson estimated that between 600 and 800 thousand people will visit the wheel in the first year alone. One spin is going to cost $15, lasting anywhere from 12-15 minutes long.

42 gondolas are each capable of seating 8 people.

Over 1.5 million lights will be added to the wheel for nightly illumination.