The Domain Cos. has obtained financing and begun construction on Lyra, in the Mott Haven neighborhood of the Bronx, N.Y.
The $310 million development at 414 and 445 Gerard Ave. is being financed by the Goldman Sachs Urban Investment Group. It is being developed in partnership with The VOREA Group.
The mixed-income, mixed-use project will feature 544 apartments and 10,000 sq. ft. of retail space across two buildings.
Approximately 30 percent of the apartments in Lyra will be affordable to households earning 80 to 130 percent of Area Median Income. It will take part in the Inclusionary Housing Program, receiving a 421-a tax incentive from the New York City Department of Housing Preservation and Development.
Completion is slated for early 2023.
