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:
New pet shop for the south
A new shop for animal owners has opened in south of the Island.
Hand, foot and mouth warning issued to parents
Parents and carers are being warned about viruses circulating among children.
Mark Cavendish joins fitness brand
A Manx cycling icon has been named as an ambassador for a fitness technology brand.
UCM restaurant taking bookings for new academic year
The Island's University College restaurant is now taking bookings for its new academic year.
Little Switzerland Tesco set for a facelift
Tesco has applied to give one of its largest Island stores a facelift.
Nominations open for 2027 King’s Award for Voluntary Service
Nominations for the 2027 King's Award for Voluntary Service are now open.
Pre-election meeting in Arbory tonight
A pre-election meeting for voters in the south of the Island will take place tonight.
Chamber urges Islanders to choose candidates who can lead
The Isle of Man Chamber of Commerce is urging voters to choose General Election candidates who can govern in the interests of the whole Island.
