I am new to Anaconda Python and I am setting up a project in Sublime Text 3. I have installed Anaconda and created a virtual environment using:
conda create
To answer your question the folder for your python binaries and packages for the environment are located in ~Anaconda_installation_folder~/envs/python35.
But I cannot really say if that solves your problem. Normally you just switch to your environment source activate python35 and then type python. This will automatically give you the "right" python executable. So if you have a package you could use:
source activate python35
python setup.py install
# Now it is installed in your python35 environment
source activate python27
python setup.py install
# Now it is also installed in your python27 environment
Just change python setup.py install to what you want to do in the environment. I don't have any experience using Sublime Text and what you mean with build system. But you can always use something like tox which automates a lot of these manual builds.