Three major new developments were unveiled yesterday at the Government Conference.
A 55 apartment residential development will be built on Lake Road Douglas, 38 apartments will go up on the former Ocean Castle Hotel in Port Erin, with a mixed use development planned on the former Villiers Hotel site on Loch Promenade, including an 80 bedroom hotel, retail and leisure space.
Private investors will foot 75% of the bill, with the remaining 25% coming from Government, an approach which ensures it will be a viable proposition for the developers.
The plan is to have all three projects operational by late 2026, however a number of you on our Facebook page drew comparisons between these proposals, and the Lord Street development, which has been held up for a number of years.
Minister Johnston described the plans for the multiplex cinema, hotel and leisure facilities as 'still ongoing'
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