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Thu, 18 Mar 2021
Plans are underway to kickstart the redevelopment of unused government-owned sites across the island.
The establishment of the Manx Development Corporation has been approved by Tynwald.
It’s described as an ‘arm’s length’ commercial company with the Treasury Minister as the nominated shareholder.
The corporation will focus on developing unoccupied or previously developed land and support the transformation of urban and brownfield sites.
Strategic direction will be given through a steering group which is a sub-committee of the Council of Ministers.
Enterprise Minister Laurence Skelly says ‘establishing the Manx Development Corporation is an important first step for the repurposing of Government owned brownfield sites. Furthermore, it is a catalyst to realising the potential that can be achieved by unlocking a range of public and private development opportunities to enhance the appearance of our towns and contribute towards economic prosperity, alongside social and public realm benefits.’
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