Plans for apartments, retail outlets and an exhibition space at the Marine Biological Station in Port Erin have been put forward.
Delgatie Ltd - who purchased the building and its lands in August last year - is seeking approval in principle for the development.
It would also include over 150 parking spaces at both ground and basement level.
The property development company was founded in 2017 operating in both the Isle of Man and UK markets.
Firefighter to raise money by wearing full gear in fitness competition
How much has the Department of Infrastructure claimed for property damage?
Visa fraudster convicted in Isle of Man immigration scam
Crowds gather for Maccies re-opening after £1.6m upgrade
MHK questions wages of 1,500 extra workers
Manxman sailings cancelled today
New parent employment rights to start this Saturday
70% of cars fail police winter roadside checks