Work To Start On IYLO Again

First it was on, and they started building it, then the recession hit and it
was off, and now it's back on again.

IYLO is a 20 floor residential tower sitting on a traffic island overlooking St
James Road in Croydon that started construction in 2007. Developed by
Phoenix Logistics and designed by Darling Associtates Architecture to
contain 185 apartments and 57 parking spaces, the tower was put on
hold after the collapse of the main contractor of the scheme, Lancsville,
roughly halfway through construction leaving a partially clad structure with
the upper levels of the core still exposed.

Lancsville was moved into administration last December, only a month
after the developer had fired it from the project as the construction
timetable started to slip and now to try and get the project finished,
Phoenix Logistics have set up their own specialised construction
contractor to complete the building work.

Part of the delay in getting this underway after a pause of approaching a
year has been that although the project is still profitable, hence the desire
of the developer to push on with it, Phoenix Logistics has had to raise the
cash to fund their construction arm in a financing climate that is hostile to
such things.

With this they have been able to rehire the subcontractors who were
previously working on the scheme and now expect to complete the
project in the third quarter of 2011, almost a 18 months late making it
good news for local residents who had hoped it wouldn't be abandoned
creating a blot on their landscape.

Meanwhile, elsewhere in Croydon things are also looking up as Berkeley
Homes begins the first phase of the Rolfe Judd designed Saffron Square
indicating that perhaps things are starting to rise from the bottom again.

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