>>11273804Yes and no. Yes, in that you can make one and have a colony in it, but you will need to change the design a bit due to radiation problems with the original design. You'd essentially need to make something like the ship in the book, "Rendezvous with Rama." That cylindrical ship was essentially a space cave without windows of any sort and lots of shielding against all forms of radiation including secondary particles.
A space colony structure, with rotational simulated gravity, should be shaped as a torus or similar structure. There are many types of structures proposed:
Standford Torus
Von Braun Wheel
Potocnik Wheel Station
Also see,
Bernal Sphere (originally non-rotating)
Fiction,
Bishop Ring
Halo Array
Ringworld
Orbital Ring
McKendree Cylinder
Check out GlennClovis' artwork for some neat space station specs and art.
>>11273806Money will always be a problem if there's no immediate profit. Even removing the cost of moving mass into space, the cost of building such a structure won't be cost effective for those who are investing. Their goals will need to be something other than profit. Though, that doesn't mean they can't offset some of the cost by making some income with it.