Isle of Wight Council bosses have overturned a vote by councillors - who had rejected the partnership to secure £900 million of funding.
Work Starts On Weymouth Tower
Three Olympic sailing contenders swapped the waves for the high sky today.
Annie Lush and sisters Lucy and Kate Macgregor were raised nearly 50 metres in the air by a crane to mark the official groundbreaking ceremony for the new Weymouth Tower.
When it is finished the £3.5 million attraction - on the corner of Weymouth's Festival Pier - will overlook the Olympic Festival Village.
It will provide a bird's-eye view of the course over which the three sailors, all from Poole, will be vying for medals in the new Olympic Match race at London 2012.
The competition, hosted at Weymouth & Portland Sailing Academy, sees two identical three-seat boats racing around a two-lap course.
Annie, Kate and Lucy have won national, European and World Championship titles and are hoping to pick up Olympic gold medals this summer.
The tower, which will be operated by Weymouth Sea Life Park owners Merlin Entertainments, will offer views into the English Channel and many miles along the famous Jurassic coast.
Turning through a full 360-degrees it will also reveal a panoramic vista of the resort and some of west Dorset's beautiful countryside.
"Work is already under way and so far we're ahead of schedule," said tower and Sea Life boss Craig Dunkerley.
Heart got to go up in the crane today, check out some of our pics:
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