Monaco’s major housing projects have been adversely affected by the current health crisis. The Grand Ida and Testimonio II bis construction projects, which are part of Monaco’s National Housing Plan, are facing some changes and justifiable delays.
More shops and businesses in Grand Ida
On 16 July, the government presented a revised Grand Ida project. There will be three buildings instead of four, including two 100% state-owned blocks, for a total of 215 apartments. This will allow several thousand additional square metres for shops and businesses. Delivery is now scheduled for mid-2024.
Two more storeys for Testimonio II bis
Testimonio II bis plans have also changed and will be two storeys taller. This will create 12 additional dwellings, or 170 apartments total. Located opposite Larvotto Boulevard, the Testimonio project has been taking shape for several years now. Known as the last great building plot of the Principality, it spans from Boulevard d’Italie to Princesse-Grace Avenue. This month (September 2020) teams began constructing Testimonio II-bis. The Testimonio II tower should be ready by the end of 2022 and the Testimonio II-bis tower by the end of 2023.
Monegasque families waiting for housing
These new deadlines must be met because hundreds of Monegasque families are waiting for housing. Back in January 2019, Stéphane Valeri, President of the National Council, spoke about the importance of more housing in Monaco and announced 730 new housing units.
“I am thinking in particular of the respect of deadlines for the construction of state-owned programs. We will be vigilant so that they are launched as quickly as possible, in particular Testimonio II bis and Grand Ida,” Stéphane Valeri said during a press conference in January 2019.
According to the National Housing plan, released in March 2019, the Principality will be creating an average of 122 new apartments per year over the next 15 years. These new apartments will accommodate more than three quarters of Monegasque households.