ORLANDO, Fla. -

Three new attractions in the tourist district of Orlando, including a giant wheel called the Orlando Eye, will debut in early 2015 in an area dubbed I-Drive 360.

[PHOTOS:  I-Drive 360 construction plans]

The Orlando Eye, a 425-foot observation wheel that developer Chuck Whittall says will rival the world-famous London Eye, will be a focal point of the project.  Other attractions include Madame Tussauds, a wax museum, Sea Life Aquarium and several restaurants.

Officials on Wednesday gave a tour of the area, announcing the I-Drive 360 name -- changing it from I-Drive Live -- and providing details about the projects.

"You get to see all the lakes all the surrounding area," said James Paulding of Merlin Entertainments. "You get to see other attractions in the Orlando area, so it's a really beautiful vista that you get up there."

Whittall said the giant wheel will be open to riders in March 2015.

"I could not be more excited about what we are about to have here on I-Drive," said Orange County Mayor Teresa Jacobs.

The first part of the development that will open is the YardHouse Restaurant that is set to open next week.