The shape of accommodation to come?

A planning application has been submitted by Hartford Homes for the site, now cleared but formerly occupied by the Foresters Arms pub on St Georges Street. Permission is being sought for a four storey building plus basement to accommodate 38 " crash pad" apartments. There's also permission asked for a bar/restaurant, a retail/commercial unit and ten parking spaces.
( see site pictures)

Crash pads are a fairly modern concept.
For instance one advert in Sheffield I checked described "homely accommodation as an alternative to hotel rooms".
Its also the term used for a type of mattress used when bouldering, or clambering up boulders. In case you fall, the crash pad is placed at the bottom to break much of the fall.
I believe its the first time such a concept has been mooted here on the Isle of
Man.