It is happening, on Pier 57, where roughly 550 tons of concrete have been poured, supporting spokes have been hoisted into place, and the whole 175-foot-high shebang is scheduled to be up and running by the 4th of July.

The Seattle waterfront ferris wheel will feature 42 heated-and-air-conditioned gondolas, each of which will hold six people, each of whom will pay $10-$12 per ride.