PHOENIX, AZ – An Arizona developer is bringing the first Libeskind-designed building to the Valley of the Sun through Rainbow Road, a boutique multi-family property located near Roosevelt Row in central Phoenix expected to break ground in the second quarter of 2023.
InveStellar Corporation, an urban development and advisory firm specializing in providing long-term value through iconic mixed-use, residential and hospitality projects, plans to develop Rainbow Road, a 36-unit architecturally significant apartment community situated on 13,500 square feet located at the southwest corner of First & Portland Streets.
Rainbow Road will deliver one-, two- and three-bedroom penthouse apartments with private rooftop terraces, including a multi-level living experience among many of the two-level lofts. Units will include dramatic views of the neighborhood and Phoenix skyline, through the lens of floor-to-ceiling angular glass windows. Along with well-appointed apartments, Rainbow Road will feature an art gallery space and a fully landscaped and shaded rooftop and a multi-use courtyard that will double as an art experience and public space for events throughout the year.
Designed by Lev Libeskind, son of internationally renowned architect Daniel Libeskind, Rainbow Road brings the iconic Libeskind deconstructivist style featuring sharp angles and slanted surfaces but with Lev Libeskind s own spin. Since opening his own architectural and design practice in Milan and Rome, Lev Libeskind has made a name for himself as the head of Libeskind Studio Design, working on such iconic projects such as the East Thiers Station in Nice, France; the MO Arts Museum in Vilnius, Lithuania; CityLife in Milan, Italy; and the new Stadio della Roma masterplan in Rome, Italy, designed to host the new stadium for the AS Roma soccer team, as well as many new projects in North America and Europe.
Having worked alongside my father, I grew up breathing this architectural style and taking in all the energy and passion that goes into it, said Lev Libeskind. Now I m pushing that style into new directions. I was fortunate that the Rainbow Road project is led by visionary developers who care deeply about the city and architecture. This project allowed me to explore meshing the well-known Libeskind style with a functional aesthetic that meets the demands of the people who are going to live, work and experience the building. Architecture is not pure art, it s civic art. It s about finding the perfect diagonal; it s also about contributing to the neighborhood and shaping the future of a city.
The name Rainbow Road may sound familiar to 90s-era gamers who played the iconic video game Mario Kart, and that s no coincidence. The community boasts an actual rainbow road throughout the courtyard and onto the sidewalk, and color and accents are also carried through the interior design in the window wells and window frames. The two-tale units will also feature video game-inspired steps leading to the entrances and in-unit functionality for casual and experienced gamers.
We found the exact color palette for Mario Kart and that became a defining factor of this building, said Lev Libeskind. There is a waterfall of color that goes through the top, outside the building and throughout the building spilling onto the sidewalks with gorgeous, fractal tiles. The colors paired with the series of diagonals that veer from the traditional 90-degree angles we are used to seeing in architecture is what will really transform this building into a curated piece of art.
The courtyard, sidewalks and on-site art gallery will showcase artworks by Lev Libeskind along with other local well-known and up-and-coming artists. Rainbow Road was designed intentionally to fit into the diverse Phoenix arts district which surrounds the property. During the city s arts focused First Friday events, Rainbow Road will open its gallery and event space to local artists as well.
The neighborhood surrounding this building has inspirational public art and attention-grabbing murals. We wanted to contribute to that and through Lev s incredible work we were able to turn this property into a living piece of art, said Zac Cohen, managing director of InveStellar Corporation. We wanted interaction, we wanted connection, and we wanted to make a sense of community in the arts district. Rainbow Road will be a place where all these things intersect.

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HOUSTON, TX – The NHP Foundation (NHPF), a national not-for-profit provider of affordable housing, announced that it has begun construction of a new $45 million affordable housing development that will make 149 affordable rental apartments for those experiencing homelessness in Houston. The new apartments at 3300 Caroline will be known as RoseMary s Place. The new apartments are scheduled to open in May 2024.
The groundbreaking comes after NHPF finalized the lease of land from Magnificat House Inc. (MHI) in January. NHPF is developing the property to house some of Houston s most vulnerable homeless people. The project is supported by Hurricane Harvey recovery funds provided by the City of Houston and Harris County. Full funding includes: $18.7 million from the City of Houston Housing and Community Development Department; $10.2 million from Harris County Community Services Department; $13.6 million from the sale of tax credits to Hudson Housing; $2.4 million from Magnificat Houses Inc. (MHI) as a sponsor loan.
Local elected officials hailed the groundbreaking as a much-needed development to address Houston s homelessness.
The construction of RoseMary s Place will help alleviate the growing issue of homelessness in Houston by providing homes and services with integrity, said Carolyn Evans-Shabazz, Council Member District D, City of Houston.
The four-tale building will include two floors of efficiency apartments and offices for MHI – a 55-year-ancient nonprofit that is partnering with NHPF to provide permanent supportive housing (PSH) services to residents. PSH ensures that residents are supported beyond shelter alone, including programs designed to build skills and connect people with community-based healthcare, treatment and employment services.
Every Harris County resident deserves a place to call home and to be treated honestly– not only as a matter of housing stability and security, but as a matter of dignity, said Rodney Ellis, Harris County Commissioner, Precinct One. Over 3,000 people experience homelessness on a given night in Harris County. Not to mention, low-income households that earn less than $20,000 a year are on the brink of experiencing homelessness. I m glad that Rosemary s Place will help address the fantastic need of affordable housing in our region. Rosemary s Place represents just one of the many county investments in affordable and supportive housing that s plotted for the future.
With RoseMary’s Place, NHPF hopes to help end chronic homelessness in Houston, said Neal Drobenare, senior vice president of acquisitions for NHPF and lead developer of RoseMary’s Place. The stable housing and services provided will give residents opportunities to live pleased and productive lives.
The property, located on one city block at Caroline and Stuart streets in Midtown, also will house property management and two offices for resident service providers, three multipurpose rooms, a warming kitchen, two separate gathering areas, and a 24-hour staffed entry desk.
The Magnificat community is overjoyed to welcome RoseMary s Place, and its 149 residents, onto our campus and into our hearts, said MHI Executive Director Victor Hay. We appreciate NHPF for its foresight in recognizing community support as key to healing homelessness—and for naming their building after our founder, Rose Mary Badami.
The groundbreaking comes at a critical time when Houstonians can expect to see 3,223 people experiencing homelessness at any given moment. More than half of that population is a result of economic crisis, according to Houston s Coalition for the Homeless 2022 Homeless Count & Survey.

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CHARLOTTE, NC – The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, in collaboration with Canyon Partners Real Estate (Canyon) and CIBC Bank USA, has officially broken ground on South Tryon, a market-rate community that will bring 310 apartments to Charlotte s rapidly growing South End.
Canyon has provided a preferred equity investment to support the development of 3310 S. Tryon Street in conjunction with a senior construction loan from CIBC. South Tryon will be Canyon s 7th preferred equity transaction with NRP. The five-tale development will include a mix of one-, two-, and three-bedroom apartments. Den floor plans will be available for one-bedroom units to accommodate post-pandemic work-from-home trends.
We are thrilled to bring this community to the vibrant South End neighborhood, which is quickly becoming one of Charlotte s premier entertainment and business districts, said Jason Mochizuki, Vice President of Development at The NRP Group. NRP is grateful to have exceptional partners in Canyon Partners and CIBC that are committed, trusting, and believe in making best-in-class housing for a growing number of residents in the community.
South End is quickly becoming one of Charlotte s preferred urban office cores, due to the proximity of lifestyle amenities and accessible parking options. As such, companies including Lowe s, Lending Tree, DFA, and Allstate, have over 2.2 million square feet of office and 371,000 square feet of retail plotted or under construction that will add to the existing 3.5 million square feet of office and 1.9 million square feet of retail.
In addition to ample employment opportunities, South Tryon will offer working professionals an simple commute to even the furthest of employment centers through its close proximity to the New Bern Light Rail Station and I-77, both a half mile away. Residents will also be less than five miles from the Charlotte Douglas International Airport and the Uptown and South Park neighborhoods.
A variety of activities found in the bustling South End neighborhood will be located less than a mile away from South Tryon, ideal for those who delight in walking or biking to local attractions and small businesses. Residents will easily experience all that Charlotte has to offer, with exciting nightlife and live entertainment, trendy retail and dining options, the city s iconic Rail Trail, renowned art galleries, and full-service grocers, all a small distance from the community.
South Tryon will offer residents a variety of amenities, including a movie and fitness center, co-working area, indoor bike room, club room and social area, dog wash and park, swimming pool, courtyards, and an outdoor dining and cooking area.
Canyon specializes in financing transitional real estate across asset classes, including ground-up development, lease-up projects, refinancings and recapitalizations. The firm has invested approximately $5.6 billion of debt and equity capital across more than 200 transactions over the last 10 years.
The NRP Group expects South Tryon, its seventh community in the Charlotte area, to be completed in 2025.

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