The current version of the palace sits in Adrilankha.
The basic structure of the building (or complex of buildings) is an interior 'imperial' section, with 17 wings corresponding to the Dragaeran Houses.
In a larger circle surrounding this, is a series of Great Houses, one for each of the seventeen Dragaeran Houses. This is known as the "Imperial Circle". A speculative illustration of this layout can be found here, by Bryan Newell.
The Old PalaceEdit
Construction of the original Imperial Palace in Dragaera City was begun during the first Tsalmoth Reign. The original Vallista foreman in charge of construction was named Jamiss. After the death of the Tsalmoth emperor, Jamiss took the throne and the Orb and became the first Vallista emperor.
The central palace structure was completed approximately nine hundred years later, at the end of Jamiss' reign. It took until the second cycle, however, to complete all the Great Houses in the Imperial Circle.
The Old Palace was a labyrinth of corridors, walkways, arboretums, baths, gardens, and courtyards. The central structure was nine stories high, and each of the House wings had four stories. Constructed by Vallista craftsman, the structure was an architectural masterpiece.
The New PalaceEdit
The current Imperial Palace began construction only a year or two after the end of the Interregnum at the beginning of the reign of Zerika the Fourth. Since this was less than three hundred years before the palace is seen at the time of Vlad Taltos, it would seem the new palace is either less elaborate than the original, is still under construction, or (most likely) was designed and built faster due to modern construction techniques.