The man who wants to build the world’s tallest observation wheel in St. George says he has secured the money to do it.

Rich Marin tells NY1 he has closed on a funding package that will allow for construction of the NY Wheel.

The project's groundbreaking was called off on two separate occasions earlier this year after construction costs rose.

Marin says work will take two years to complete with an opening expected in 2017. The adjacent Empire Outlets are expected to open first, in late 2016.