Cross metathesis of the acrolein derived phosphono allylic carbonate and hydroxy alkenes using second generation Grubbs catalyst and copper (I) iodide gave the substituted phosphonates in good yield. Stereospecific palladium (0)-catalyzed cyclization gave tetrahydrofuran and tetrahydropyran vinyl phosphonates. Regioselective Wacker oxidation of the vinyl phosphonate gave the β-keto phosphonate, which underwent HWE reaction with benzaldehyde to yield the unsaturated ketone. The utility of the cross metathesis/cyclization protocol was further demonstrated by a formal synthesis of centrolobine.