This is Paulownia fortunei, also known as Dragon Tree, Fortunes Empress Tree, Sapphire Tree, and Phoenix Tree. This fast growing tree likes to live in full sun where its lavender and violet blossoms are on display from the middle of the Spring until early Summer. This genus of plant was named in honour of Anna Paulowna, the daughter of Tsar Paul I of Russia, and queen consort of The Netherlands from 1795 to 1865. This is a popular ornamental tree because of its beautiful blossoms. The wood is light and used in making musical instruments such as guitars. A Fender Telecaster guitar was made out of Paulownia for Brad Paisley. USDA Hardiness Zones 5b to 9.