well not in root's home directory, in your home directory. if you leave the permissions as-is, it should be accessible to other users as well.
the only thing that makes it sort of weird is that normally applications dont put everything in one directory, they scatter them around in bin, share, etc. so if you put something in /usr/local/phoenix/, then the binary will be at /usr/local/phoenix/bin/phoenix. then you will either need to type out that whole path, add it to your path, make a symlink, or make an alias in your shell. i just install stuff to ~/bin, isolate each one to its own subdirectory, and then make a symlink which is in my path since ~/bin is in my path.
for example i'll install waimea to ~/bin/waimea-0.4/, so i have ~/bin/waimea-0.4/bin/waimea being the executeable itself, and in place of bin, there are also the usual directories, man, share, etc. then i make a symlink at ~/bin/waimea. its all kind of hairy, but thats what happens when you install things in strange ways