The Treasury Minister says the Manx Development Corporation will see a “reasonable return” on the former Nurses Home on Westmoreland Road.
The claim came during a Tynwald debate that revealed a significant split in how ‘key workers’ are defined for the Thie Clag development.
The issue was raised by MHK Chris Thomas, who questioned the criteria used by the MDC and its letting agent, Cowley Groves, which Dr Alex Allinson argued flexible.
Key Workers?
“The Manx Development Corporation, in partnership with this appointed letting agent Cowley groves, has adopted a broad and pragmatic approach to the term key worker,” Dr Allinson said.
He added that 73% of the apartments have been let to people identified as key workers from both public and private sectors.
This contrasts with the Housing Communities Board, which uses a stricter ‘essential worker’ definition focused on specific public services.
Mr Thomas challenged the model, suggesting the development was “let to anybody with whatever income” and questioned if the original ‘landing pad’ concept of 12-month lets was being followed.
Dr Allinson defended the project, adding: “There was no plan to make thigh Clegg what he would consider perhaps public housing.”
Funding
The funding model for the scheme was also contested in Tynwald.
Mr Thomas, who has previously said he doubts that figure and model for the scheme, argued a government loan guarantee constrained public borrowing.
Dr Allinson refuted this, saying: “The finance for it is raised privately through a banking arrangement, and there are no state subsidies for the people who are living at Thai Clegg, in fact, it’s going to produce a reasonable return.”
Julie Edge had also sought clarity on rents, noting one two-bedroom property was advertised at £1,850, while the minister cited a starting price of £1,100.