The territories of Angliyskaya Embankment (English Embankment), Petrovskaya Embankment (Peter's Embankment), and Universitetskaya Naberezhnaya (Univeristy Embankment) are the three finalists from original 17 names list.
The height of the structure should be 170 meters. For comparison, the height of the famous Ferris on the South Bank of the River Thames in London, the London Eye, is 134 meter, and it is the one of the highest in Europe and in the world.
At the moment, the project is at the one of the last stages of preparatory work. After it will go to the Council for Protection of Cultural Heritage of St. Petersburg, where the final decision on the construction of a Ferris wheel will be made.