R
eal estate mogul Anthony Cordeiro is expanding his downtown Fall River portfolio with a new five-story building on Bedford Street. The project, at 295 Bedford St., will replace a used car lot and an auto body shop with 52 market-rate apartments and an adult day care center. Cordeiro's company, 295 Bedford Street LLC, received zoning variances and special permits from the Zoning Board of Appeals to move forward with the development.

    The building will occupy nearly half a block between Seventh and Eighth streets on Bedford Street. It will feature commercial space, including an 8,000-square-foot adult day center on the first floor, as well as four three-bedroom apartments, 13 two-bedroom units, and 35 one-bedroom units. The project includes 74 parking spaces, which is fewer than required by zoning rules.

    The demand for market-rate housing remains high in Fall River, driven by empty-nesters downsizing, young professionals moving into the city, and residents upgrading to higher-quality apartments with better amenities. Ken Fiola, executive vice president of the Bristol County Economic Development Consultants, wrote in support of the project, citing its $20 million investment in the area.

    The new building will be within walking distance of several properties owned by Cordeiro, including office buildings and market-rate apartments. The project is part of a larger trend of housing development in Fall River, which saw a boom in 2024.