The palace was built for Bartolomeo Ghisilardi and is a typical example of a 15th-century's noble house of Bologna. The front features a graceful arcade with seven arches resting on capitals with Gothic-like pointed leaves, on top of which, two rows of windows stylistically attributed to Antonio Morandi, called il Terribilia, were added in the 16th century. In terms of proportions, the Medieval technique of ‘triangulation’ was applied still in use at the time in local buildings, even though Renaissance style was slowly taking hold. Around the mid-16th century, the palace was purchased by the Fava family, and it had already been finished in 1584 when the Carracci decorated the famous hall in the piano nobile of the nearby Fava palace with the frieze representing Jason's myth. In the palace basement archaeological finds from the roman period were unearthed (including a road marble pavement), and a portion of the selenite city walls from the Medieval town is still visible today. From the inner courtyard the 13th-century tower of Conoscenti can be seen. At present, the palace houses the Museo Civico Medievale (Medieval Museum).