The Manx Development Corporation (MDC) is set to submit a planning application for a new multi-storey car park at Parade Street, Douglas.

The scheme is set to be put forward to planners for consideration in the first half of 2025.

The proposal is part of the broader regeneration strategy for lower Douglas, building on the 2014 Tynwald-approved masterplan for the area.

In collaboration with the Isle of Man Treasury, MDC says is advancing its plans for the site, which is currently managed by the Department of Infrastructure (DoI) and was used as a border control point during the Covid-19 pandemic.

MDC managing director, Dane Harrop, said extensive groundwork has already undertaken on the proposed site.

He said: ‘Following a pause of works to reassess the final scope, the Manx Development Corporation have now re-engaged its design team with a view to lodging a planning application for the Parade Street Car Park site in the first half of 2025.’

‘To date the project has included extensive stakeholder consultation with those associated with adjacent sites, the highways department and those running the port to ensure that what is being proposed is considered and coordinated. This engagement will continue as the design progresses into the next phase.’

Project bosses hop the new car park will become a cornerstone of plans to redevelop lower Douglas and is designed to support wider regeneration efforts and private sector investment in the area.

Project bosses say the plan aligns with the Island Infrastructure Scheme, which aims to support the redevelopment of key brownfield sites across the island.

Launched in January 2023, the Island Infrastructure Scheme provides up to 25% funding of the eligible costs of the redevelopment in the Lower Douglas area - excluding land costs - which is only payable upon the completion of the scheme in line with any planning approvals and in keeping with the original Tynwald Approved Lower Douglas Masterplan.

The early stages of the scheme has already attracted nearly £90 million in private sector investment.

The Department for Enterprise has welcomed the Parade Street proposal as a significant step forward in revitalising another key brownfield site in the city.

MDC states that such infrastructure investments often serve as catalysts for broader urban redevelopment, aiming to enhance the vibrancy and usability of the area for residents, visitors, and businesses alike.

The Parade Street project comes alongside progress on the Lord Street development, which has already submitted a full planning application.

That scheme includes 85 apartments, a multi-screen cinema, restaurants, a food hall, modern office spaces, and a state-of-the-art indoor bus information centre with passenger facilities.

It is also set to include toilets and changing facilities and bus driver welfare facilities, all of which are designed to enhance the vibrancy and social offerings in the City centre for the community.

These developments are aligned with the Island Plan’s objectives of promoting housing and mixed-use developments in city centres and on brownfield sites.

MDC says it will share further details of the Parade Street proposal ‘at the appropriate time’, as it continues to work closely with stakeholders to ensure the plans integrate seamlessly with the city’s broader regeneration goals.

Elsewhere, MDC is supporting the regeneration of Douglas with construction underway for the former Nurses Home and progressing through planning for Westmoreland Village, creating 170 residential homes as well commercial and social developments.

Back in May, The Treasury Minister Dr. Alex Allinson said that these projects are a ‘significant milestone in regenerating brownfield sites into new developments and reflects the core principles of the Island Plan, aiming to build strong communities and ensure a more secure, vibrant, and sustainable future for the Isle of Man.’