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Happy ending to a tall story as residents move in to City Lofts
AFTER years of planning wrangles, funding problems and extended delays, residents have finally moved into Sheffield's tallest building – the £38.4m St Paul's City Lofts apartment block.
The 32-storey block of 316 apartments, near to the Peace Gardens, towers 101 metres into the sky and has overtaken Sheffield University's arts tower as the tallest building in the city.
Allan McDougall, chief executive officer for Shepherd Construction, said: "We are delighted to complete this development which is set to help transform Sheffield by providing prestigious accommodation and retail facilities for those living and working in the city centre."
Just a year ago the future of the St Paul's tower was hanging in the balance after the original developer, City Lofts Group Plc, went into administration.
Millions of pounds from regional development agency Yorkshire Forward was then used to bail out the scheme.
The money was in the form of a loan but will only be repaid if City Lofts' backer, nationalised German bank Hypo Real Estate, makes a profit from the development – which is viewed as unlikely.
Another problem to befall the scheme – which eventually finished 18 months behind schedule – included a protracted argument with planners over the type of panels used to clad the building.
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Saturday 11 February 2012
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