Completed in 2010, it was designed by Pei Cobb Freed & Partners, a well reputed architectural company based in New York.
In 2012 the Council on Tall Buildings and Urban Habitat, CTBUH, has awarded the Palazzo Lombardia as the Best European Tall Building: "In a city known for history and fashion, the tower is perfectly attuned to the urban environment. More than simply a tower, the project creates a cohesive blend of parks and commercial space, with an appropriate local flair." - Anthony Wood CTBUH
The Lombardy Palace is close to the new Porta Nuova ("New Gate") area that is undergoing major construction activities like the Unicredit Tower. Completed in 2012, with its 231 meters it is the highest building in Italy. Milan will host the EXPO 2015 Universal Exposition and also for such reason is undergoing an important development phase with many new buildings contracted to world-famous architects.