The costs of redeveloping the former nurse's home in Douglas should be in line with its budget, according to Treasury Minister Alex Allinson.
He faced a question for written reply from Rushen MHK Juan Watterson about the Thie Clag development.
Mr Watterson wanted to know the full cost of the project, but Dr Allinson said that figure wouldn't be available until it had been fully completed.
But he added the costs would come in on budget, originally set at just over £11 million.
Emergency closure in place on quayside
Passport services to move online
Woman plans to ride 100 miles for charity
Roadworks near Foxdale this week
Postal vote deadline looms for those living abroad
MP reveals more details of Whitehaven ferry proposals
Council wishes Bee Gee happy 80th birthday
Warning over traffic delays as city centre work gets underway