RISE for males is housed in Sanders, one of the Shoeboxes and in my opinion the Shoeboxes are the best freshman dorms on campus. (Sanders and Cope are the male dorms, Young is for girls, Benet is co-ed). The Shoeboxes are located near the Union and a dining hall and isn't too far of a walk from most of your classes. The rooms are the biggest in size (not that much) among freshman dorms, there's no carpet though (tile floors) and there's a sink in your room which is a plus (don't have to go to the communal bathroom to brush your teeth in the morning)
I would have applied there this semester but RISE is different from the normal application process in that THEY TAKE STUDENTS BY THE DAY THEY APPLY FOR THE RISE PROGRAM. I applied on May 1st thinking I was safe since I had my admission application done early but I was rejected and the program was supposedly full by mid-April. The advantages of living there are that everyone is a general engineering major and will be taking the same classes as you. There is supposedly free tutoring available and other academic advantages. However the disadvantages are also that you are living with all engineers so you may not interact with that many people outside of your major.
Also, if you get into the Honors college, I would personally live in the Honors dorm than RISE, much nicer