The Arsan palace, the oldest patrician palace in Cres, was constructed in the place of a former arsan (It. aresenale, shipyard), which is how it got its name “Arsan”. At present it is home to the Cres City Museum.
A bronze sculpture of Frane Petrić by Marija Ujević-Galetović stands in front of the museum. The Renaissance scholar Frane Petrić was born in Cres, but his family branch was connected to the nearby Moise palace. The Arsan palace, however, was commissioned by his relative from a different branch of the Petris family, bishop Antonio Marcello de Petris.