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Monaco’s $2.3 Billion Expansion Into the Mediterranean Sea @ArchDigest

The massive project, which will include work by Renzo Piano Building Workshop, will create nearly 650,000 square feet of residential and commercial space

When an area has developed every square foot of land, the next step is usually to start building upward, à la New York City. But rather than squeeze in new skyscrapers, Monaco has always taken a different approach. The city-state on the French Riviera packs a population of over 38,000 into 500 acres (just under one square mile), and its real estate is the most expensive in the world, with buyers paying an average of $4,536 per square foot, according to Savills. So to increase the available land space, the principality is once again expanding into the Mediterranean.

The new district, called Portier Cove, will add an additional 15 acres and is set to be completed in 2025. The project, which is owned by the state, is helmed by civil engineering firm Bouygues Travaux Publics, with Valode & Pistre Architectes in charge of the coordination of the design firms and overall plan. Other firms involved include Renzo Piano Building Workshop, who will be designing a residential building, landscape architect Michel Desvigne, and Monaco-based architects Alexandre Giraldi and Patrick Raymond.

Read the full article by Architectural Digest here