The City of New Orleans is currently evaluating private sector proposals for the redevelopment of the World Trade Center building on the banks of the Mississippi. The building has been vacant since the late 1990s and has been subject to three previously unsuccessful redevelopment attempts.

Two Canal Street Investors, a finalist for the redevelopment, has unveiled designs for Tricentennial Tower, a 320ft (98m) observation tower and vertical gondola ride – known as a Skyspire – to be constructed next to the World Trade Center building, in partnership with ride maker, US Thrill Rides.

The concept is for a gondola ride built into the shape of a double helix, providing 360º views. The patented concept is the only 360º lift system in the world.

The observation tower would feature a restaurant as well as an observation deck, in addition to an interactive experience that would provide visitors with a panoramic virtual reality tour of New Orleans throughout history.

US Thrill Rides’ president, Michael Kitchen said: “New Orleans is currently in a redevelopment renaissance and we believe the Tricentennial Tower will be a spectacular addition to the city.

“Visitors can expect breathtaking views of the city, Riverfront, French Quarter and the Mississippi River, along with a guided 360 degree Virtual Experience through the rich cultural history of New Orleans."

If Two Canal Street Investors win the bid, the tower would be completed by 2018 to fall in line with the city’s 300th birthday celebration.

Two Canal Street’s plans would see the World Trade Centre redeveloped into a luxury Conrad hotel with 307 bedrooms and 120 private residences. If successful, the whole project would cost US$291.7m (€276.9m, £197.6m).