The construction of Palazzo Becchi-Magnani probably dates back to the second half of the sixteenth century, a period in which the Becchi Counts decided to build their representative home in the city.

The building, in fact, has undergone several interventions due to the numerous changes of ownership: after the Becchi counts, the ownership passed to the Dionigi family and then at the beginning of the eighteenth century to the Chioffi who in the mid-800s promoted important restoration works.

After further changes of ownership in 1917 the property was purchased by Giuseppe Magnani who, upon his death, transferred the property to his son Luigi, an art collector, musicologist and man of culture

 Upon the death of Professor Magnani, which took place only one month after the closing of the exhibition, the building was purchased by the Province of Reggio Emilia. In 1997 the palace, after a series of restorations that have adapted the structure to its new function, became the site of important exhibition activities aimed at increasing the cultural heritage of the Reggio community with exhibitions of photography and modern and contemporary art of great intellectual value . The most significant exhibition events include, by way of example, the exhibition of paintings by Antonio Ligabue, the sculpture exhibition by Arnaldo Pomodoro, the exhibition on the figure of the Countess Matilde di Canossa, who recorded a great success with visitors and privileging issues aimed at enhancing the territory.

In 2010, to guarantee a strategy and a business organization capable of offering greater flexibility and operativeness, it was decided to move from the direct management of a single public body to the establishment of a public-private participation foundation, whose main purpose is that of widening participation, precisely, by involving other public and individual private bodies in the project of valorisation and promotion of art and becoming, with a memorandum dated 11 November 2010. The Foundation since then and up to now pursues with courage and dedication the objective of promoting and spreading the visual arts and culture on the territory and in the world through a scientific committee of great cultural importance and a careful and passionate board of directors.