Albert tells People magazine that the Philadelphia home he purchased last year for $754,000 will house regional offices for the Princess Grace Foundation and a U.S. extension of Monaco’s Princess Grace Irish Library. It will also be made available for public events once it is renovated.
Albert says that since the home sits in a residential neighborhood, “it won’t be exclusively a museum.”
Albert visited the home in October. His mother accepted a marriage proposal from his father, Prince Rainier III, in 1955.
The home was built in 1935 by Kelly’s father, John B. Kelly. He was a three-time Olympic gold medal-winning rower in the 1920s.