According to artist's comment, the place depicted is Saint Petersburg, Russia. And the building in the background looks like the Church of the Savior on Blood.

D'Eye said:

According to artist's comment, the place depicted is Saint Petersburg, Russia. And the building in the background looks like the Church of the Savior on Blood.

yep http://goo.gl/maps/nYA5p
With some errors, like giant man walking on frozen water on background:)

sotonya said:

yep http://goo.gl/maps/nYA5p
With some errors, like giant man walking on frozen water on background:)

Thanks for the link. I've added a couple more tags.

It took a few seconds of major deja vu for me to remember that I've been down that exact road. Quite an odd feeling to stumble upon a picture like that.

Interesting titbit; the outcropping in the canal in the background is due to the fact that the Emperor died right next to the railings of the canal. They chose to build the church into the canal so that the actual site could be preserved.