The villa stands on the remains of an old country house which, according to tradition, hosted the company of young people who gave life to the Decameron by Giovanni Boccaccio. Until the mid 16th century property of the Cresci family and with a splendid Italian-style garden, it was modified several times until becoming the headquarters of the European University Institute in 1986.

Worthy of note are three marble sundials which are still intact and functioning: one from the 17th century with the signs of the zodiac, and two that can be dated to the mid 19th century.