BROOKLYN, NY–Domain Cos., in partnership with Vorea Group and Mega Development, have secured a $140-million loan for Majestic, a ground-up, class A mixed-use development with 255 multi-housing units and 18,000 square feet of commercial space, located at 540 DeGraw St. in the rezoned Gowanus neighborhood of Brooklyn.

Scheduled for completion in 2025, the 12-story, mid-rise building will allocate 25% of the apartments as affordable. Domain is targeting a LEED Platinum certification for the property and is working on a partnership with Arts Gowanus to provide dedicated studio space for local artists.

Majestic will rise on an inland site situated adjacent to Thomas Greene Park, the only large public park and community pool in the area. Under an Administrative Settlement with the EPA, National Grid is remediating the western two-thirds of Thomas Greene Park, and additional park enhancements will include an expanded pool and pool house, a playground, green space and sports facilities.