Cord Meyer broke ground on a $100 million-plus residential project delivering 145 rental apartments across two five-story buildings in Bayside, Queens.
\n The homes, ranging from studios to three-bedroom units, will rise on underutilized parking areas at the recently renovated Bay Terrace Shopping Center.
\n The project extends Cord Meyer\u2019s more than 120-year presence in Queens and follows the developer\u2019s ongoing 203-unit residential project in White Plains.<\/p>\n
Key Takeaways<\/p>\n
Cord Meyer Development has broken ground on a $100M residential project<\/a> at its Bay Terrace Shopping Center in Bayside, Queens, according to GlobeSt.com.<\/p>\n The repositioning will add 145 rental apartments across two five-story buildings on underutilized parking areas off 26th Avenue. It\u2019s the latest phase in Cord Meyer\u2019s ongoing overhaul of the shopping center.<\/p>\n Get Smarter About What Matters in New York<\/p>\n Subscribe to our free newsletter covering the biggest commercial real estate stories across the five boroughs \u2014 delivered in just 5 minutes.<\/p>\n Building on a Renovation<\/p>\n The residential push follows a multimillion-dollar renovation of the Bay Terrace Shopping Center. The center now houses 19 food-and-beverage tenants and 12 apparel and accessories retailers.<\/p>\n Tenants include Stop & Shop, Outback Steakhouse, and Old Navy.<\/p>\n \u201cWe\u2019re providing residents with convenient access to grocery shopping, restaurants, entertainment, fitness and a wide range of national and local retailers,\u201d said Joe Forgion, Cord Meyer\u2019s vice president and project lead on the Bay Terrace development.<\/p>\n The Details<\/p>\n The 145 units will range from studios to three-bedroom apartments. Many will include private terraces. Some ground-floor homes will also have individual entries.<\/p>\n Planned amenities include rooftop terraces and outdoor gathering areas. The project will also feature a clubhouse and resident lounges.<\/p>\n Callahan Construction Managers is serving as general contractor. Cord Meyer expects to deliver the residential community by early 2028.<\/p>\n Zooming Out<\/p>\n The Bayside project adds to a Queens development pipeline that has been thinning elsewhere in the city. The condo pipeline<\/a> is also projected to shrink over the next several years.<\/p>\n Cord Meyer has owned property in Queens for more than 120 years. The Bay Terrace site marks its latest bet on the borough\u2019s residential demand.<\/p>\n The developer is building on an underused parking lot instead of acquiring new land. That approach lets Cord Meyer add housing without disrupting existing retail tenants.<\/p>\n Those tenants already generate income at the site.<\/p>\n Why It Matters<\/p>\n Retail-to-residential conversions reflect a broader industry push. Developers are pairing housing with existing commercial infrastructure instead of building from scratch.<\/p>\n