ORLANDO, Fla. -

Orlando will be getting the world's tallest roller coaster in its tourist district, developers announced on Thursday.

Developers David and Joshua Wallack announced a 570-foot vertical coaster will be built in Florida, and the roller coaster, which would be the tallest in the world, will be located at International Drive and Sand Lake Road in Orlando. 

The ride will be known as "The Skyscraper" and will be built on 12-acres around the Skyplex, which will be full of entertainment and shops. US Thrill Rides is the company creating and building the ride itself.

The Skyplex, which will be 495,000 square feet, will also have a place to take a 55-foot elevator ride to an observation deck.

Developers said riders will be inverted 50 feet in the air with rolls and the coaster's track will be nearly a mile long. The ride will be 3 minutes long and will reach speeds of 65 mph.

Officials said they plan to break ground in 2015 and open in 2016. The estimated budget to build the Skyplex is $200 million.

It' s not clear exactly how much it will cost to ride the coaster, but the developer says it will be less than $20 for unlimited rides.

Riders must be 48 inches tall to go on the coaster.