In the heart of the Principality there is a parcel of land that has become a symbol of promise postponed. Located above the Place des Moulins and bordered by Boulevard d’Italie, the area formerly earmarked as the “Annonciade II” development has been rebranded by the government as the “Urbanisation of the Quartier de la Rousse”. Its waiting now spans more than a decade.
A New Vision
For years, Monaco’s elected representatives have watched the site , once occupied by school buildings and technical-facilities, linger in planning stages. The vision has long been ambitious: to turn what is essentially a “build-on-top-of-the-city” site into a new mixed-use district combining state-owned housing for Monegasques, public amenities, shops and a revitalised residential life. Planning documents note that the lan in the old Annonciade sector, is “dissected” by Avenue de l’Annonciade and sits on a slope, making urban design particularly tricky.
Years of Inertia
In recent months the tone has sharpened. During the 2025 amended budget session, members of the Conseil national voiced frustration at what they called “years of inertia”. While the government asserts that the urban-design competition has been launched, with a wider perimeter than just the former school plot, and that numerous high-quality applications have arrived, the timeline still remains vague. The design contract is targeted to begin mid-2026, but actual dates and housing delivery dates remain unsettled.
What lies behind the delay? Monaco’s land-scarcity is well known: with barely over 2 km² of territory, every plot demands intense coordination, high construction costs and careful calibration. The area in question is part of the La Rousse district , one of Monaco’s most densely built-up zones, and one of the few where new housing between private and public forms still gains momentum.
For the government, the stakes are clear: the redevelopment must not only deliver homes but also help fulfil the national housing plan for Monegasques, initiated in 2019, which has already seen over €1.5 billion invested and 633 new state-owned apartments delivered by end-2024. Against that backdrop, the Annonciade/La Rousse zone may serve as a flagship.
Yet for many councillors the patience has frayed. The concern is that by staying stuck in study and design, the project risks becoming a technocratic exercise rather than a social one and that the housing component may be squeezed or that public involvement may be sidelined. In their view, the site must deliver “state-owned housing in good number” and become “a social-residential pole for the next twenty years” rather than simply another luxury high-rise.
A New Chapter
What emerges from this episode is a microcosm of Monaco’s urban dilemma: too little land, many ambitions, and the imperative to serve citizens, not just luxury. The once promising Annonciade II scheme now enters a new chapter, one where tangible steps, rather than plans, will be needed. If all goes well, mid-2026 will see an acceleration of the process; until then the site remains a quiet parcel overlooking Monaco’s bustle, awaiting its transformation.
