Miami councillors and members of the public have approved the development of a new 304 metre high rise that is said to be part observation tower, part thrill ride.

When completed, the $430 million ‘SkyRise Miami’ by Jeff Berkowitz will be the tallest tower in Florida and will host three observation decks, a ballroom, a cinema, a nightclub and a restaurant.

The tower will also feature two built in amusement park attractions for visitors seeking a rush of adrenaline.

The SkyRise Drop will allow those brave enough to bungee jump from the skyscraper while “attached to a high-speed controlled-descent wire.”

Alternatively, the SkyPlunge will see participants locked into a harness to free fall 50 stories before an "extremely rapid deceleration" brings them to a screeching halt.

Designed by Arquitectonica, the hairpin-shaped tower is said to be relatively energy-efficient and will be aiming for LEED Gold certification.

Developer Jeff Berkowitz is projecting 3.2 million visitors to the tower a year and has even gone as far to claim that the SkyRise will be the “Miami Eiffel tower.”

Construction is due to begin later this year and completed by mid-2017.

Courtesy Gizmag