Treasury Minister Alex Allinson says rents at a new development in Douglas will be enough to cover the costs of the building.
He faced questions in Tynwald this week from Douglas Central MHK Chris Thomas about Thie Clag, the former nurses' home on Westmoreland Road.
Dr Allinson said Cowley Groves had been appointed to let the apartments and retail units at the site.
And he added rents have already been set for the building:
Extra steam trains during tomorrow's bus strike
Isle of Man Railways says its steam trains will help commuters with this weekend's bus strike.
Half of Manx farmers suffered dog attacks on livestock, says report
More than half of Manx Farms surveyed say they've had sheep injured in dogs attacks over the past year.
Police appeal over crash driver
Police are appealing for information after a car crash in Laxey last month.
Video shows work on Liverpool Ferry Terminal
A Merseyside YouTuber has captured footage of divers working on the Liverpool Ferry Terminal.
Government meeting weekly to discuss Iran war
The Chief Minister says he'll hold weekly meetings to discuss the war in the Middle East.
Bus strikes to be discussed by MHKs
Infrastructure Minister Tim Crookall will face questions about the ongoing bus strike when the House of Keys sits next week.
Aurora show on the way tonight?
Keep your eyes on the sky tonight - with a good chance of seeing the northern lights.
All aboard for this year's steam trains!
There's good news for train fans today - as the Island's Steam Railway season gets underway.
