- Cord Meyer broke ground on a $100 million-plus residential project delivering 145 rental apartments across two five-story buildings in Bayside, Queens.
- The homes, ranging from studios to three-bedroom units, will rise on underutilized parking areas at the recently renovated Bay Terrace Shopping Center.
- The project extends Cord Meyer’s more than 120-year presence in Queens and follows the developer’s ongoing 203-unit residential project in White Plains.
Cord Meyer Development has broken ground on a $100M residential project at its Bay Terrace Shopping Center in Bayside, Queens, according to GlobeSt.com.
The repositioning will add 145 rental apartments across two five-story buildings on underutilized parking areas off 26th Avenue. It’s the latest phase in Cord Meyer’s ongoing overhaul of the shopping center.
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Building on a Renovation
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.
Tenants include Stop & Shop, Outback Steakhouse, and Old Navy.
“We’re providing residents with convenient access to grocery shopping, restaurants, entertainment, fitness and a wide range of national and local retailers,” said Joe Forgion, Cord Meyer’s vice president and project lead on the Bay Terrace development.
The Details
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.
Planned amenities include rooftop terraces and outdoor gathering areas. The project will also feature a clubhouse and resident lounges.
Callahan Construction Managers is serving as general contractor. Cord Meyer expects to deliver the residential community by early 2028.
Zooming Out
The Bayside project adds to a Queens development pipeline that has been thinning elsewhere in the city. The condo pipeline is also projected to shrink over the next several years.
Cord Meyer has owned property in Queens for more than 120 years. The Bay Terrace site marks its latest bet on the borough’s residential demand.
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.
Those tenants already generate income at the site.
Why It Matters
Retail-to-residential conversions reflect a broader industry push. Developers are pairing housing with existing commercial infrastructure instead of building from scratch.
That strategy can reduce costs and shorten delivery timelines. It also echoes how other NYC developers have used underused sites to add units faster.
The project also signals confidence in Queens multifamily demand. Citywide vacancy rates remain near historic lows.
That environment gives developers more incentive to turn underused commercial land into housing. For Cord Meyer, the strategy also connects new apartments to a recently renovated shopping center.
The built-in retail access could help the developer lease the units more quickly.
What’s Next
Cord Meyer is also advancing a 203-unit residential project in White Plains. The project signals plans to keep expanding the company’s housing pipeline across the region.
Delivery of the Bayside apartments is targeted for early 2028. Callahan Construction Managers will oversee construction through completion.
