The IYLO Croydon redevelopment has
faced a number of challenges over the past several years. Most notably, IYLO was left as a
half-completed eyesore after its initial parent company ran out of funds. It is important to acknowledge that the
development did not go as planned.
Instead of adding a new center to transform a London neighborhood into a
world-class destination, the half-completed residential skyscraper intended to
be a beacon of a brighter future became a rundown hazard. However, the redevelopment is under new
management and has a new name.
Construction on Island has resumed.
Instead of leaving the neighborhood with an abandoned building, Island
is planned to be a better epicenter to the Croydon redevelopment than initially
planned.
The first attempt at building IYLO
Croydon was met with a number of challenges that were faced by many
different build firms a few years ago.
Primarily, funds were short due to a poor global economy, and government
interventions were often ineffective. A
number of redevelopment projects across the U.K., Western Europe, and the U.S.
were left unfinished for a simple reason: the parent company behind the
projects ran out of available funds, and it was more difficult to acquire a
meaningful line of credit than it was in the past. However, Island has a new name and has been
purchased by a new parent company with a greater vision.
Highlights of the new Island
Island is a phenomenal residential
skyscraper. With construction already
underway, the building should be completed in the near future. Island has a number of benefits to residents
including the following:
- · Balance of city life and outdoor activities that include numerous parks.
- · Family-oriented community with top rated schools.
- · Investment opportunities for entrepreneurs and venture capitalists.
- · Easy access to mass transit and different London neighborhoods including major universities.
- · Better overall quality of life for residents.
Island has the same vision of
redevelopment and renovation as IYLO.
However, it is now backed by a parent company with the resources to turn
the vision of a better way of London living into a reality.
The Future of Island and Croydon Appears Bright
Completing construction on Island
is the first step in a plan to turn a London neighborhood into a global
destination. With more stable resources
and in better economic times, the new parent company behind Island can make its
initial vision come to life. Instead of
revitalizing a residential skyscraper, Island can reshape the future of Croydon
and offer a higher standard of living to prospective residents.
