Work is going well in the Principality. A new district is being developed, near the exotic garden: the great IDA. Take a look back at one of Le Rocher’s major real estate projects.
Grand IDA, a new district for Monaco
It took a long time to think about “Moyen Ida”, “Grand Ida”, “Très grand Ida”… The whole question revolved around the scope of the work. Finally, after much procrastination, it was decided: the name of “Grand Ida” was finally retained.
The Grand Ida will see the construction of three buildings of 12 floors each. These buildings will benefit from the bronze certification “Mediterranean Sustainable Building of Monaco” (BD2M). The project was presented to Monegasques in January 2020, shortly after the Palais Honoria, another nearby urban redevelopment project.
The area in question is located on the edge of Boulevard Rainier III, near the Exotic Garden. In fact, the Grand Ida will be located in La Colle. The roadmap has already been drawn. With the start of work in 2020, delivery is scheduled for around September 2023.
The work was entrusted to the Monegasque construction company JB Pastor & Fils. They include an important part of deconstruction. After a reflection launched with the inhabitants, certain buildings of Boulevard Rainier III and residences on rue Plati will be deconstructed to make way for new buildings. During the works, conventional measures aimed at limiting both noise and visual nuisance will be deployed.
On the budget side, the Grand Ida project is estimated to have a cost of around 173.5 million euros. However, by incorporating additional costs (relocation of 40 households, road works, networks, fitting out of the nursery, etc.), it is estimated that the overall budget is rather around 220 million euros.
Housing, parking and commercial premises on Boulevard Rainier III
In total, the construction of around 160 state-owned housing is planned. In detail, it would be 140 state-owned housing and 20 housing units reserved for those who have donated. Beyond the construction of an imposing real estate complex, it is above all a question of redeveloping a district deemed unattractive. The mix of activities is therefore at the heart of the project.
Thus, pride of place will be given to green spaces and pedestrians. In addition, the project provides for the integration of offices so that the area is not only residential. Finally, many services will be present in the neighborhood. Shops will be set up as well as a crèche with 56 places. Finally, a home for the disabled (Amapei) will be created. This home will include around ten housing units and will be able to accommodate nine residents and three accompanying persons. All in all, the Grand Ida will consist of a land complex of approximately 3,850 m².
On the parking side, the project provides for the construction of a parking lot of around 350 spaces. The underground car park should have four levels and will have spaces reserved for two-wheelers.