Construction work on the i360 tower on Brighton seafront is to start next week.
The 600ft tower, which is being created by Marks Barfield, the firm behind the London Eye, will be the tallest visitor attraction in Britain outside the capital.
As contractors gathered this week before work starts, those behind the giant observation tower said that they were confident that it would be a success after it opens in 2016.
But some still remain sceptical claiming that the £46.2 million project, most of which is funded by a public loan, is a waste of money.
David Marks and Julia Barfield, creators of the Brighton i360 and the London Eye, said: “We have the opportunity to create something truly unique and of international renown here in Brighton and Hove.
“We are excited to be working again with this top team and we are all look forward to seeing the opening of the attraction in summer 2016.”
The Brighton i360 will have an 18-metre diameter pod carrying up to 200 people at a time 450ft (138m) into the air.
The attraction will also include a restaurant, shop, exhibition space and conference facilities at beach level.
It will be run by Brighton i360 Ltd, whose chief executive is tourism expert Eleanor Harris.
Tony Camilleri, managing director of JT Mackley, which is based in Small Dole, near Henfeld, and will work on the project, said: “We are very much looking forward to bringing our local knowledge and coastal experience to the project and to working with this international team on what will become a world famous landmark.”
Marks Barfield has invested £6 million in the project with a further £4 million coming from the Coast to Capital Local Enterprise Partnership (LEP).
This means that the council can borrow funds and lend them on to the developer of the i360 at a commercial interest rate.
The council then receives a higher rate of interest than it pays the loan board which will earn it nearly £1 million a year.
The loan would be repaid over 25 years but could potentially be repaid sooner if the attraction is more successful than expected.
Work started recently on removing some of the debris from the West Pier.
This has seen the removal of a pillbox dating back to the Second World War.
Conservationists are unhappy that more wasn’t done to protect the historic structure.
The main i360 structure will be brought to Brighton beach in containers with cranes erecting each segment one at a time.
But not everyone is convinced.
Speaking about the project as a whole, Valerie Paynter, of campaign group Save Hove, previously said: “The idea of a viewing platform is hackneyed and old hat. There’s already one down the coast in Weymouth. People don’t fall for that kind of thing anymore.
“To cap it all the security on the loan from Brighton is the tower itself, so if it fails for any reason the city will have to repay the loan. It will be a huge white elephant, with interest payable on it.”