The world is full of villages and towns and little cities aspiring to be big cities – too many to count, in fact – but there are only a handful of truly great cities in the world, and if you’re having trouble identifying them, just look for the iconic, architectural feat that each has ornamenting its skyline. For New York it’s the Empire State Building, Paris has the Eiffel Tower, in London there’s Big Ben, and soon, Miami will have SkyRise.

Called a 1,000-foot observation tower, last week developer Jeff Berkowitz was given the go ahead on Miami’s newest and, possibly, most eye catching structure when local voters went to the polls in favor of the project, which will also include an amusement park style ride that drops people down its side, a 550-foot bungee jump, a ballroom, moving movie theater and, in true Miami fashion, a nightclub.

When Berkowitz pitched the idea to a city commission in June, the plans were unanimously approved.

“Miami is a world-class city,” Berkowtiz says. “I think an iconic structure downtown will firmly cement Miami on the global stage. It’s going to be Miami’s Eiffel Tower.”

It’s a bold move to compare an unbuilt observation tower in South Florida to one of the world most universally admired landmarks – often called a “modern marvel” – but Berkowtiz is confident in his building. He estimates that each year the tower will attract more than 3.2 million visitors, which is how he’s justified SkyRise’s hefty $430 million price tag.

Some, including Coconut Grove architect Charles Corda, have come out against the tower, arguing that Berkowtiz’s estimations are a little too optimistic. Corda even attempted to sue the city to halt last week’s vote, but the lawsuit was ultimately dismissed.

In response to criticisms, Berkowtiz has been willing to put his money where his month is, investing $30 million of his own money into the SkyRise project.

“I don’t have a single doubt that this is going to be a resounding success,” he says. “I’ve visited towers all over the world and this will be the best.”

Once complete, the tower will sit at the end of the Bayside Marketplace outdoor shopping mall, facing Biscayne Bay.