The building of a 50-floor skyscraper in the city of Miami was approved by voters last week, according to Huffington Post site. The impressive building, called SkyRise Miami, will cost approximately $430 million and has already acquired the nickname “Miami’s Eiffel Tower,” due to its impressive size.

According to reports, SkyRise Miami will be the country’s second-tallest observation tower behind the Stratosphere in Las Vegas and it will be finished by 2017.

Jeff Berkowitz, the building’s developer, has visited many iconic towers all over the world and decided that Miami is the ideal location for his project.

SkyRise Miami will feature a venue for special events, a “flying theater” with aerial shots of Miami and a high-class restaurant.