The walk will be a free outdoor show as Wallenda launches a three-week run at Circus Sarasota.
City leaders are also hoping to showcase Sarasota scenery as a backdrop to Wallenda's stunt.
"I wanted to do something for my hometown," Wallenda said. "My hometown has been so supportive of me."
Wallenda, a Sarasota native, comes from the famous circus family that included his great grandfather Karl Wallenda, who fell to his death during a performance in Puerto Rico in 1978.
On Tuesday, Wallenda plans to walk a wire from a crane near the city's Unconditional Surrender statue of the sailor and the nurse on Sarasota's bayfront, across the street to Marina Tower, landing on someone's balcony.
Unlike Wallenda's highly publicized walk across Niagara Falls last summer, this walk is planned without a safety tether that could catch Wallenda if he stumbles.
Wallenda says his contract for the live televised Niagara Falls walk required him to wear one, but he has made it clear he prefers to work without one.
City officials gave him a green light for the walk without the safety line, going against a staff recommendation on the issue.
Although he is outspoken about his dislike for wearing safety tethers during walks, Wallenda says he is well aware of the risks of his job.
"When you become complacent that's when something happens whether it be a gust of wind or a slip on the wire or a trip," he said "There's something that wakes you up."
Read more: http://bit.ly/VrOEWk