Listed under the water tab as a water tower, but does not function as one. I cut the electricity costs, pollution stats and water pumping to 0. It’s purely for decoration purposes. You can right click and rotate and place them anywhere without needing to have a road.
I was going to build it as a park, but currently according to a CO Dev, parks are bugged so my item wasn’t showing up right, this is what I have it as a water tower place holder. Personally though it does seem better because you don’t need attach it to a road opposed to a park. Feel free to place some shrubbery around it! e item.