Cord Meyer Breaks Ground on $100M Residential Project in Queens
Cord Meyer has begun construction on a $100 million residential development at its Bay Terrace Shopping Center in Bayside, Queens. The project will deliver 145 rental apartments across two five-story buildings built on underutilized parking areas adjacent to the shopping center. This initiative is part of an ongoing redevelopment that includes recent renovations adding retail tenants like Stop & Shop and Outback Steakhouse. The development reflects a broader trend in New York City where developers are converting commercial spaces into residential units amid low vacancy rates and strong demand for housing. By leveraging existing infrastructure, Cord Meyer aims to reduce costs and expedite delivery while enhancing the appeal of its properties through integrated retail access. The project is expected to be completed by early 2028. This move supports a growing Queens multifamily market and aligns with other regional developments such as Cord Meyer’s ongoing White Plains residential project, signaling continued expansion in the housing sector.
Topics: commercial real estate Cord Meyer housing development Queens