Tynwald will be asked next week to approve funding of ?7.3 million for the next phase of redevelopment at Janet's Corner in Castletown.

Part three of the project - which has an overall price tag of almost ?23 million - will see 22 houses demolished to make way for 52 new homes.

The work also includes new utlilities, drains and sewers for the whole estate.

The new homes in phase three comprise 19 family houses and 21 bungalows for the elderly.

A property on an adjoining plot which has been aquired by the department of Local government has been demolished to make way for 12 two bedroom flats.

In phase one, work to refurbish 51 homes was completed last April and the first NEW homes will be ready for occupation this summer.

The second phase to build 23 family houses and two bungalows, should be complete by the end of the year.

If Tynwald approves the funds, work on the third phase will begin in the summer and be complete by spring 2010.