King Charles III and Queen Camilla will not take up residence at Buckingham Palace following the completion of a decade-long refurbishment project, royal officials confirmed on Thursday. Instead, the king and queen will continue to live at nearby Clarence House while maintaining Buckingham Palace as the ceremonial and operational center of the monarchy.

The extensive renovation, initiated in 2017, involves upgrading the palace’s aging infrastructure, including plumbing, electrical wiring, and heating systems. The refurbishment, costing approximately £369 million ($487 million), is intended to preserve the 775-room palace for at least another 50 years. Buckingham Palace, which has served as the London residence of British monarchs since Queen Victoria in the 19th century, also functions as office space for the royal household and hosts high-profile state events.

James Chalmers, senior royal official overseeing the king’s financial affairs, emphasized that Buckingham Palace will remain "Monarchy HQ" and a key national landmark. The decision to keep the king and queen at Clarence House—a stately home adjacent to the palace where Charles lived as Prince of Wales—will allow expanded public access to Buckingham Palace. Currently, the palace welcomes roughly 700,000 visitors annually, a number expected to rise with the increased availability of the building for tours and public events.

The announcement was made during a briefing on royal finances, where King Charles III disclosed that he paid £12.9 million ($16.1 million) in income and capital gains taxes during the 2024-25 financial year, marking an increase from £11.7 million the previous year. This disclosure marks the first time a British monarch has publicly revealed their tax payments, aligning with the monarchy’s recent efforts to promote transparency and modernization amid ongoing public scrutiny.

The royal family has faced significant reputational challenges in recent months, notably surrounding allegations linked to former Prince Andrew, now Andrew Mountbatten-Windsor, and his association with convicted sex offender Jeffrey Epstein. These controversies have at times overshadowed the king’s push to reform and modernize the centuries-old institution.

Buckingham Palace remains a symbolic site for national celebrations and historic announcements, including wartime victories and royal milestones. Despite its central role, critics caution against letting the building remain underutilized. Ed Owens, author of “After Elizabeth: Can the Monarchy Save Itself,” expressed hope for innovative plans for the palace’s future, suggesting that leaving it vacant for extended periods would be a missed opportunity.

As the refurbishment project nears completion in 2027, royal watchers and the public alike await further details on how Buckingham Palace’s role may evolve in the coming years.