Okay, so a residenz is like a really big house where important people used to live a long time ago. It's like a castle or a palace, but maybe not quite as fancy. In the olden days, kings and queens and other important people would have a big residenz where they would host parties and dinners and do important work.
Sometimes, people still use residenz today to describe a fancy building where important people or government officials work or live, but mostly it's just a fancy word for a big house that used to be really important.