The Polercoaster, a proposed vertical roller coaster to be built on the site of the old Sands casino, has received approval from the Casino Reinvestment Development Authority, The Press of Atlantic City reports.

The envisioned coaster will sit on one acre of land and tower 350 feet high. It will be located on Martin Luther King Jr. Boulevard and Mount Vernon and Kentucky Avenues.

Florida developer Joshua Wallack, who is building a similar amusement complex in the Sunshine State, has big plans for the Jersey site. He told the Press of A.C. that that there will be a definite nightlife venue planned to go with the coaster. “We’re obviously going to have a bar there,” he said.

The Polercoaster is not the only proposed amusement coming to Atlantic City. A 200-foot observation wheel, hoping to attract roughly 50,000 riders a month, is being bult at the Steel Pier. It’s estimated that it will cost about $14 million with partial funding coming from the Casino Reinvestment Development Authority. Look for the wheel to open later this year.

There is no immediate timeframe for the Polercoaster, but Wallack told the Press of A.C. that time is of the essence. “Obviously we want to open it as quickly as possible,” he said.