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:
Fundraiser hits goal to spark Manx-US romance!
Two Transatlantic lovebirds are set to be reunited after the big-hearted public stepped in with donations to an online fundraiser.
Local drinks take honours at beer festival
Two local beers took pride of place during a huge festival in Douglas at the weekend.
Summerland car park plans rejected
An application for temporary parking on the former Summerland site has been rejected.
Three sets of evening TT course roadworks this week
The Department of Infrastructure says it'll be doing three sets of roadworks on the TT course this week.
Woman launches fundraiser to reunite with Manx partner
Could you help smooth the path of true love for a woman from the US and her Manx boyfriend?
Fury calls out Joshua after successful boxing return
Island resident Tyson Fury says he'll retire again unless he can fight Anthony Joshua.
Part of the north to be without water tonight
Manx Utilities says it will have to shut off water in part of the north tonight for essential work.
Emergency remote schooling plans being prepared
The Department of Education, Sport and Culture is preparing an emergency plan for remote schooling.
