The Domain Companies announced last week that it has obtained financing and broken ground on Lyra, a $310 million development in the Mott Haven neighborhood of The Bronx, NY. Developed in partnership with The VOREA Group, Lyra is a mixed-use project featuring 544 apartments and 10,000 square feet of retail space.
Lyra represents a step forward for Domain. As a mixed-income property, approximately 30% of the apartments will be affordable for households earning 80-130% of the area median income. The multifamily development will be one of the most sustainable in New York City, with a variety of features such as efficient building design and systems, rainwater harvesting, solar panels, car charging, and a co-generation plant. With these elements and more, Lyra will qualify for LEED Platinum certification.
Domain is excited to become a part of the growing Mott Haven neighborhood. As New York City has made nearly $200 million in infrastructure improvements, the neighborhood has become an attractive area for families. Other private investments in charter schools, office spaces, and a major grocery store only further highlight the benefits of living in this rapidly growing community.
Completion for the project is slated for early 2023.
To learn more about Lyra, please click here.