Having the technology to build it isn't the hard part. The question is why you'd do that in the first place and who would fund such a colony.

First of all it's going to be massively more expensive than any housing we've ever built on earth so only a very small elite could afford living there.

But then again, space is a very hostile environment: it's super dangerous (any incident will almost certainly snowball into a dramatic accident), very unhealthy (billionaires are currently funding longevity research, so I don't think they'd like to go in a place where they would age up significantly faster than on earth…), and life is just worse up there on all respect…