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Prince Albert of Monaco bought Grace Kelly’s childhood home in East Falls

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It may become a museum

The rumors are true: The son of the late Princess Grace Kelly bought her childhood home in East Falls.

Prince Albert of Monaco confirmed to People magazine that he purchased the property for $775,000 in September. In June, Curbed Philly first reported that the home hit the market for $1 million.

"It feels good," Prince Albert said to People. "I’m very happy to have saved this old family home from a near certain death or development."

The home underwent a number of pricechops after listing in June, hitting the $750,000 mark in August. After the East Falls home officially sold in September, the Inquirer reported that Monaco had allegedly bought the property, but was still awaiting confirmation.

Plans are still up in the air, but Prince Albert says that the 6-bedroom, 4-bath home may be turned into a museum of some sort, or perhaps office space for his foundation, Prince Albert 2 of Monaco Foundation.

He says he'll travel to Philadelphia next week to start planning.

There’s work to be done on the 4,000-square-foot property, no doubt. The prince said he looks forward to having his own children visit the home where he recalls "rolling about on the carpet" and "staring out the window, watching the cars go by, enjoying being alone," as a child.

"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," he says.

Grace Kelly’s father built the home at 3901 Henry Avenue in the 1930s. It’s filled with memories that surely will be on display if the property does turn into a museum. The heights of the Kelly children are still etched into a doorway, and the Prince of Monaco proposed to the Oscar-winning actress here as well.