InveStellar Corporation Sources Lev Libeskind for Design of Boutique Multi-Family Property Near Roosevelt Row to Bring Functional, Civic Art to the Arts District
PHOENIX, Feb. 6, 2023 /PRNewswire-PRWeb/ -- 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-story 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 beautiful, 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 amazing 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 create a sense of community in the arts district. Rainbow Road will be a place where all these things intersect."
The property was purchased for $2.25 million in December 2021 and Rainbow Road is expected to be completed in Q2 2024. Pre-leasing will begin in Q4 of 2023, and interest is expected to far exceed the availability with only 36 total apartments available in a prime location.
For more information about Rainbow Road and to join the interest list, please visit http://www.rainbowroadphx.com
About InveStellar Corporation
InveStellar Corporation is an urban development and advisory firm specializing in providing long-term value through iconic mixed-use, residential and hospitality projects. The team behind InveStellar has successfully developed and managed over $1.2 billion of real estate assets and construction projects throughout Europe, Asia and North America.
About Libeskind Studio Design
At Libeskind Studio Design, we believe architecture to be a soulful, profoundly human experience, a blend of art and form that has the power to shape communities and inspire generations. Our passion is to create spaces that are not only aesthetically stunning, but also have a profound impact on the lives of those who inhabit them. Our design philosophy is guided by a desire to craft spaces that speak to the soul, resonate with the human spirit, and leave a lasting legacy, while still being profitable to the client. For more information, visit https://www.libeskind.it/
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Melissa DiGianfilippo, Serendipit Consulting, 4802504315, [email protected]
SOURCE Rainbow Road
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