Phoenix-based Intersection Development LLC has commenced the construction of Rainbow Road, a 36-unit boutique apartment complex inspired by the video game Mario Kart, in the Roosevelt Row Arts District. The project, designed by architect Lev Libeskind, will also include ground-floor commercial space. Intersection Development recently acquired the building at 840 N. Central Ave., and while plans for the site remain undecided, possibilities include residential, mixed-use, office, or a hotel. Intersection’s broader vision for the Roosevelt Row neighborhood includes other projects like the Manzana apartment building and the Arcada at Roosevelt speakeasy bar. The firm emphasizes the importance of maintaining the neighborhood’s character in its developments.
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A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
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