The Treasury Minister is to be asked whether the rental income for the former nurses home development will be enough to cover its costs.
Cowley Groves has said that rents will start from £795 per month (incl. rates) for a one bedroom apartment.
Chris Thomas, who has previously questioned the issue of how much the Manx Development Corporation scheme has cost, will ask Dr Alex Allinson when Tynwald sits later this month.
Mr Thomas will ask: “How, by whom, and at what rent the Thie Clag apartments will be let; whether he expects rent income to cover costs; and how any deficiency will be financed.”
He will later ask the DoI Minister Dr Michelle Haywood how many resident parking permits she expects to issue to tenants.
Returning to Dr Allinson, Mr Thomas will also ask how the Lloyds Bank credit facility provided to the Manx Development Corporation affects government’s capacity to borrow cash.
The £11.03m scheme, which originally had a price tag of just under £9m, has been completed on time and renamed Thie Clag, Manx for clock house.
Providing 37 flats (20 one-bed and 17 two-bed) the building also contains a commercial unit and Changing Places facility on the ground floor.
On its completion, Chief Minister Alf Cannan said: “This fantastic project represents a delivery milestone for Our Island Plan on two fronts: the regeneration of brownfield sites has been a strategic priority of this administration from day one together with improving the availability and affordability of housing.
“I look forward to seeing this development breathe new life into central Douglas.”
4 Comments