Preferred developer to be revealed this month
Chief Minister Allan Bell says he's "fairly confident" current proposals for development of the area near Lord Street in Douglas will finally give the Island what it wants.
A short list of developers has been drawn up, and a preferred developer is expected to be named soon.
The site has been the subject of discussion for almost 30 years - Askett Hawke was named as the preferred developer but that contract ended two years ago when the company failed to submit plans for a 4-star hotel.
But can the capital afford to lose all the parking in the area? Mr Bell says yes:
Government consultations need 'more objective and neutral' approach
Applications open for role on planning committee
Survey finds half of businesses expect to make cutbacks or redundancies in 2026
Braddan Commissioners appeals for information after tyres fly-tipped on Marine Drive
Allinson: Government responding to calls over MiCard system