The Capital Wheel Cometh

“The Tanger Outlets, MGM, and now The Capital Wheel — in horse racing terms, I’d call that a trifecta,” said Jon Peterson Thursday afternoon. The real estate developer — Principal of The Peterson Companies — was referencing this week’s announcement of The Capital Wheel, which come April will revolve 175 feet above a pier at National Harbor and is set to redefine the regional topography as well as generate some one million dollars in tax revenue for Prince George’s County.

The Capital Wheel joins the recently opened Tanger Outlets and the forthcoming hotel and casino from MGM in a new wave of development dollars ($15 million for The Wheel, in fact) aimed at redefining the PG County experience. “This adds another dimension to National Harbor,” said Jon.

Peterson patriarch Milt Peterson credits a trip to France — where he observed crowds clamoring for a spin in the Roue de Paris — as his inspiration for the attraction. But, he added, substantial market research was required first: “As developers, we only take risks if we have the people with us.”

The answer to that research? A resounding “yes.” Said County Executive Rushern L. Baker III: “This is a great day for us in Prince George’s County. We said that we were going to make National Harbor a destination, not just to shop and eat, but to be entertained.”

From one of 42 temperature-controlled, LED-lit gondolas, patrons are expected to be able to view the Washington Monument and U.S. Capitol as well as Alexandria and Prince George’s County — all for $15 a pop. In addition to Paris and Seattle, the D.C. region will join international destinations such as London, Niagara Falls, Cape Town and Johannesburg in offering this distinct district view.

Not only will The Wheel provide visitors with a new perspective on the National Capital region, but it will be educational, too: Kiosks on the pier will share interactive information about the historically significant Potomac River. Prefer just to play? No problem — a VIP gondola will be available for special occasions or you can rent the entire pier and Wheel for Wolfgang Puck-catered private events. It’s all part of The Peterson Companies’ commitment to revitalize PG County.

As yesterday’s press conference came to a close, Jon left the crowd with a cliffhanger: “We’ve got another couple tricks up our sleeves,” he said. “Stay tuned for an announcement in the next 30-60 days.”

Learn more about The Wheel — and monitor its progress over the next several months — at thecapitalwheel.com and on Twitter by following @CapitalWheel.