Prince Albert has bought his mother's childhood home in America.
The Monaco royal purchased the house where Princess Grace grew up in Philadelphia, Pennsylvania and is considering turning it into a museum.
He told PEOPLE: "It feels good. I'm very happy to have saved this old family home from a near certain death or development.
"We're still trying to figure out what we're going to do with it. We're looking at having it contain some museum exhibit space and maybe use part of it for offices for some of our foundation work."
Albert, 58, who has twins Gabriella and Jacques, with wife Charlene, 38, revealed he has fond memories of visiting the house when he was a young boy.
He said: "The house was very beautiful and very special to our family. I remember one visit, one of the earliest I recall, Grandma put me up in one of the bedrooms upstairs. I must have been about five and it was one of the first times I remember when I wasn't put in with my sister. I remember just staring out the window, watching the cars go by, enjoying being alone."
And he can't wait to bring his own children to their late grandmother's childhood home.
He said: "I'm looking forward to showing the house to the kids, sharing it with them, having them see the garden. It'll probably be next year. We'll have to finish the work and then we'll have some sort of opening."
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