In 16.12 building and installing the vpp-api python component will create only this folder:
drwxrwxr-x 2 vagrant vagrant 4096 Aug 30 20:41 vpp_papi.egg-info/

Where as building and installing the vpp-api in 16.09 creates the files and folders bellow:
-rwxr-xr-x 1 root staff 27163 Aug 30 21:42 vpp_api.so*
drwxr-sr-x 2 root staff 4096 Aug 30 21:42 vpp_papi/
rw-rr- 1 root staff 237 Aug 30 21:42 vpp_papi-1.0.egg-info