It was built by Niccolò III, under the direction of Giovanni da Siena, between 1424 and 1434, in the same period the "Delizia" of Belriguardo was built.
According to tradition, the palace was the meeting place of Ugo, son of the Marquis Niccolò III, and Parisina, the young wife of the Marquis, whose love ended tragically.
The palace was transformed into a "Delizia" by Borso d’Este shortly before his death (1471).
It has the appearance of a crenellated castle in the Guelph style with ravelins and forepart; it has 44 large rooms with some beautiful coffered ceilings, a chapel and an internal garden.
Later it belonged to the Mosti family, when Alfonso I d’Este granted them the ducal weapon and the surname "Estense".
In the eighteenth century it passed by inheritance to Ercole Trotti Mosti Estense, whose descendant Tancredi - patriot and commander of the Bersaglieri del Po - in 1872 promoted its restoration.
The first appearance of a tennis court in the province was right here, in 1900, when Tancredi Trotti Mosti himself had one built there.
The palace later passed to the Marquis Giovanni Costabili, then to other families who took care of the restorations; currently it is the seat of the Country Club.