According to their website, Arts Corporation is a multimedia laboratory interested in the intersections of art, architectural design, and technology. It seems they might also be responsible for the colorful light display previously seen at 290 Mulberry, if the placard at right seen affixed to it's sidewalk shed is accurate. (click through for larger version).
It identifies the multi-color light show as an art project—indeed it identifies the whole building— (a la Paul Richard) as an art project titled: Your Lights Are On But You're Not Home, 2009. An installation of "indefinte duration," consisting of Halogen and Neon Lamps, Times, Electrical Cord, Concrete, Brick, Glass, Steel, and Plastic: 40' x 60' x 140'. It was made possible "courtesy of Cardinal Investments," the developer behind 290 Mulberry. It seems a little cheeky in light of the big problems the building is facing. As well, the placard was haphazardly affixed with double sided tape, and I never noticed it there prior. Arts Corporation did not respond to an email inquiry looking for confirmation.
For more information on 290 Mulberry, check Curbed.com for complete coverage where their most recent post on the building reports the project's lender "is attempting to foreclose on the building and force a sale," "the building's construction manager filed its own lis pendens seeking over $1.7 million in unpaid fees," and "no apartments are listed as being in contract."
[290 Mulberry St]