Cord Meyer Development recently broke ground on its new residential community at the Bay Terrace Shopping Center, marking a major investment in new housing. Queens Borough President Donovan Richards Jr. and New York City Council Member Vickie Paladino (fifth and sixth from left) joined Cord Meyer executives, community leaders, and other elected officials for the ceremony.
On September 10, Cord Meyer Development (Forest Hills, NY) celebrated the groundbreaking of its new residential community at the Bay Terrace Shopping Center, marking a major investment in new housing and the continued evolution of one of Northeast Queens’ most established shopping and community destinations.
The more than $100 million development will bring 145 new rental residences to Bayside in two five-story buildings being constructed on currently underutilized upper-level parking areas off 26th Avenue. The project follows Cord Meyer’s recent multi-million-dollar renovation of the Bay Terrace Shopping Center and marks another significant step in the company’s commitment to the region.
“Cord Meyer has been part of Queens for more than 120 years, and we believe strongly in its future,” said Danielle Molaison, Vice President of Development at Cord Meyer Development. “One of the borough’s most pressing needs is additional housing, and we’re proud to help address that here in Bay Terrace. This is a community where people want to stay, and these new residences will provide more options for those who want to continue calling it home.”
Queens Borough President Donovan Richards Jr. said the addition of residences at the Bay Terrace represents an important contribution to addressing the borough’s need for new housing. “With our city in the midst of an unprecedented housing crisis, we must leave no stone unturned in building homes for our neighbors across every community of this borough. I’m grateful to our partners at Cord Meyer for recognizing this need and making the investments necessary to give nearly 150 families the high-quality home they deserve. When we talk about creating true live, work and play communities,
Bay Terrace is now a firm example of what housing, entertainment and economic opportunity coming together can look like.”
State Senator Toby Ann Stavisky said the development will create new opportunities for residents who want to remain in Northeast Queens as their housing needs change. “Northeast Queens is a place people do not want to leave. The difficulty has always been finding somewhere to go when your needs change. New rental housing in Bay Terrace gives residents options within the neighborhood they already call home — young adults starting out, and older neighbors looking for something that fits their stage of life. Cord Meyer has made significant investments in the Queens community for years and I look forward to continuing the relationship with them.”
New York City Council Member Vickie Paladino praised the project as an important investment in the future of Bay Terrace and highlighted Cord Meyer’s longstanding commitment to the community. “This project is about continuing to build a vibrant, thriving neighborhood where families can live, businesses can grow, and our community can look forward to a strong future. Cord Meyer has deep roots in Bay Terrace, and we greatly appreciate its continued commitment to investing in this community. Today’s milestone is a testament to what can happen when a company understands the community it serves and remains committed to its long-term success. I am proud of the strong partnership we have developed with Cord Meyer, and I congratulate everyone who worked to bring this project to this important moment. We look forward to seeing this vision become a reality.”