The Rainwater Flats condominium development at 501 East Capitol Avenue includes twenty units owned by landowners Bryan Hosto and Charles Buchan and operated by Moses Tucker Real Estate. The three-story complex, created by renovating the 1914 Rainwater Building, cost $3 million to accomplish. Construction on the site began in 2003 and was completed the next year. The general contractor on Rainwater Flats was Dave Grundfest Company. Renovation of the building was supervised by Wittenberg, Delony, and Davidson. Rainwater Flats is adjacent to Trapnall Hall.
- Edward Klump, "Condos to Rise on East Capitol: Moses Tucker Form's $3 Million Project to Offer 20 Units," Arkansas Democrat-Gazette, May 1, 2003.
- Laura Stevens, "Rising to a Towering Task: Groundbreaking Condo Project was a Tall Order," Arkansas Democrat-Gazette, July 15, 2007.