The Council of Ministers says it's pushing a developer over the lack of action taken at the former bus station site in Lord Street, Douglas.
Askett Hawk Developments plans to build a four star hotel with 150 rooms, 75 apartments, and nine retail and leisure units, but since an agreement was signed four years ago no work has been done.
The scheme, which also includes 180 parking spaces, led to a huge debate in Tynwald two years ago, when it emerged the company would be offered a 999-year lease on the site.
Infrastructure Minister Phil Gawne says the government has told the company it must work faster:
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