Plans have been submitted for a new casino to be built in the centre of Douglas.
The plans, which will cost £30 million, have been proposed for the Middlemarch site by island property company Altostratus Limited, who have been trying to transform the area for a long time.
Under the proposals, The Palace Hotel and Casino would seek approval to transfer its casino license while being the anchor tenant of the new development.
Twenty-five apartments, with parking, rooftop gardens, office space and a restaurants would also be created.
Subject to the planning approval, work could begin on the site within six to 12 months.
John Bell, from the project's architects ADG Architects Limited based in Darlington, said to Manx Radio: 'We have now got to the position where the planning application has been submitted.
'We are hopeful that the application will be validated either this week or early next week.
'There are three other big developments underway in Douglas right now, so this can only be a positive thing not just for Douglas but for the whole of the island.
'It's a difficult part of town to develop as it's right in the middle, but we've designed it in such a way where we can actually use parts of the site to ensure we're not parking in and around the area, as I know that is a major concern for people who live there.'