The architect of the imposing structure was Alfonso Torreggiani who acted an order of Cardinal Prospero Lambertini, using 2.000 “scudi” (shields) which the Pope had bequeathed in 1738. The building was to be located on what was once the crossways of an ancient Roman road, and later, the site of the medieval mansions of Ariosti, Rustighelli and Arrigoni.
The new construction, designated to be the seat of an arch-episcopal seminary, was enriched according to the wishes of Cardinal Vincenzo Malvezzi who entrusted Francesco Tadolini with its care. The wide portico and a row of rooms above it were added, thus giving to the simple, harmonious and majestic facade. In 1911 the palace was converted into a Hotel, which, under various owners, continued to be used as such until as late as 1978.