Residents and visitors of Monaco will have to wait only a bit longer to glimpse the start of new building by developer Renato Mazzolini. The work on the real estate project should begin within a year. It is an agreement between the State, the Compagnie des Autobus, the Municipality and Mazzolini.
Some twenty years of negotiations and at last a real estate transaction heads into the final lap. This is how you could summarise the complex deal mounted for Renato Mazzolini’s project, at 3/5 quai du Président J.F. Kennedy. Owner of part of the building, the Monegasque resident plans to entrust the construction to the architect Alexandre Giraldi and the Marzocco group for project management. Work is scheduled to begin in one year and should be completed by the end of 2020/early 2021.
“The construction of this project is based on the following arrangement: the private owner will assume responsibility for the design, financing and construction of the new building and will transfer square metres of space to the State, the Compagnie des Autubusand the Municipality,” explained Georges Marsan in a recent public meeting of the Municipal Council.
Shops on the ground floor
On the ground floor, commercial premises will be provided. It is thus that the Municipality, currently owner of 624 m2, will have 198 m2 on the ground floor and 293 m2 on the mezzanine. It will also receive €3,730,788, which it intends to use to finance the renovation of the first floor of the Foyer Sainte Dévote building in order to host the Club “le Temps de Vivre” and the entire social activities department. During the two years of construction work, this club intended for seniors will be “itinerant” or mobile, according to the words of the Mayor. At the City Hall, the project has been welcomed with open arms as no comments were made on the presentation of the project, and it received the unanimous votes of the Municipal councillors.
At the end of the public meeting, the Mayor said: “Renato Mazzolini owns some 25% of the current surface area of the property. His project began at the time when Anne Marie Campora was still mayor. But in 2010, everything was blocked because of the construction of the yacht club and the nautical company …”
And when the discussion turns to the demolition of an old building, which some people lament, Georges Marsan sees only the positive.
“It was the last blemish on the face of Port Hercules (sic). The building is in poor condition. In 2014, the balconies had to be secured for the Formula 1 Grand Prix because they were threatening to collapse.” Another point of satisfaction for the Mayor is the negotiation agreed with Mazzolini. “Just like the State, we will recover commercial premises. It was a highly complicated file. Doing just anything, indiscriminately, was not an option.”
After the modification of the sovereign ordinance of the district, which will make it possible to align the roof of the new building on the ascent of the avenue of Ostend, what remains now is vote on a decommissioning law. For his part, the architect has just begun his surveys.
The people of Monaco can start fantasising now about what this new building by Renato Mazzolini might look like upon completion.