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:
Cider microbrewery planned for Ballasalla
Ballasalla could be getting a new microbrewery, if planners give the go-ahead.
Covid wrongful arrest and torture claims thrown out by court
A man suing the chief constable and attorney general over his arrest and acquittal over an alleged Covid gathering on Laxey beach has seen 22 of his claims thrown out by a court.
Tree fellers to close part of TT course on Thursday
A section of the TT course will close for much of tomorrow while trees are felled.
Manx Utilities wants contractors for HQ refurb
Manx Utilities says it's looking for contractors as it prepares to refurbish its headquarters.
Business needed for Peel coffee shop's 'new chapter'
A coffee shop in Peel says it's looking for a business to share its premises.
Regulator freezes gas prices
The Island's utilities regulator says there'll be no gas price rise next month.
Billionaire says Island's his favourite place on earth
Billionaire businessman Jim Mellon says he has not plans to retire, but expects to keep working until the day he dies.
Planners aren't influenced by advertising, says Cannan
Chief Minister Alf Cannan says he's confident planning officials aren't swayed by advertising.
