pal·ace 
(pălĭs)
(pălĭs)n.
1. The official residence of a royal personage or other high dignitary.
2.
a. A large or splendid residence.
b. A large, often gaudily ornate building used for entertainment or exhibitions.
[Middle English, from Old French palais, from Palātium, Palatine Hill, Rome (from its being the site where emperors built their homes), imperial residence.]