The Palace was built by will of Nicolosio Lomellino between 1563 and 1569 approximately, after the project of the Lombard architect Giovanni Battista Castello called il Bergamasco.

In 1550, to suit the requirements of some upper-class families from Genoa, a new road system - the present Garibaldi Street - was designed to connect the medieval centre with the more easterly areas, thus creating a new magnificent town district. 
The ancient "Strada Nuova of the Palaces" became in fact an elitist area, where the aristocracy, satisfying its lust for self-celebration, vied with each other by commissioning elegant houses to the most important architects of the time, who could put forward the most innovative and modern solutions. 
The lot where our building is standing, which was already Luca Grimaldi's public property, was purchased formerly by Gentile family in 1559, on the occasion of the first auction; it then passed to the Lomellino family in 1563, that immediately started with the works. 
Nicolosio Lomellino amassed a large fortune by investing, together with his brother Francesco, in the lucrative coral-fishing activity in the Tunisian island of Tabarca.
According to Pesenti's last findings, the Palace was purchased in December 1609 by Luigi Centurione, whereas the transfer to Pallavicini family dates back to 1711, after the findings the writer discovered in some new archive documents (Manzitti, Priarone ..). For a short time it also belonged to Raggi family, then in 1865 the Baron Andrea Podestà, an important personality at that time in Genoa and mayor of the city for three times, took over the estate, which passed by lineage onto the actual owners.