On its main façade there is an inscription that recalls the welcoming of Christopher Columbus by the Catholic Monarchs after his return from the second trip to America. This palace was where King Philip the Handsome died as well as other historic events such as the signing of the Laws of Burgos, the first laws to give freedom to the indigenous people of the Americas.

Nowadays the palace belongs to a banking company. Through the “Fundación Caja de Burgos”, multiple cultural activities are carried out in its “Cultural Cordon” space.