Government has approved plans to redevelop three brownfield sites across the Island.
Two proposals will provide residential accommodation, with 55 apartments to be developed at Lake Road in Douglas and 38 on the site of the former Ocean Castle Hotel in Port Erin.
Planning applications for both sites will be submitted within six months, and up to 10% of eligible costs has been approved in principle.
The third proposal is for a mixed use development on the former Villiers Hotel site on Loch Promenade, including an 80 bedroom hotel, retail and leisure space.
Government says a detailed planning application will be lodged by the end of the year, with hopes for the scheme to be complete in 2026.
Up to 25% of funding will come from the Island Infrastructure Scheme which was launched in January in support of unoccupied urban sites, with up to £50m of private sector investment.
Minister Tim Johnstone confirmed the developers investment is secured, but there is still a lot of work to do.
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