As of build v0.4.3.16030300, this has been removed from the game and replaced with the Stonecliffe Academy.

The Mage Tower

The Mage Tower is a large tower building that lies in the mountains above the town of Stonecliffe. There is a path of magic crystals that lead you inside. On the first floor there is a portal to the second floor and to Tyaardos. On the second floor there is a portal back to the first and to the top. On the top there is a portal the second and first floors. On the third floor is Archmage Eriana, which Mages need to talk to for the completion of the quest Mastering the Arcane.