Friday, May 20, 2005

Eye of the Beholder

In the world of spin nothing is what it appears to be. For instance, under the headline “Related Wins Case,” the Crain’s Insider is reporting today that the real estate giant “has won its case against a five months old tenants’ rent strike at the Bronx Terminal Market.” The crux of the case, however, is the attempt of Related, EDC and the city to evict the tenants. By exchanging rent payments for a non-eviction policy it would be more compelling to claim that it is the tenants who emerged victorious from the first legal skirmish.

Crain’s does confirm that the certification of the Gateway project will be confirmed in the next month or so. At that point, the full scope of the development will emerge unveiling what Related has strived so hard for the past six months to conceal: BJ’s and the other non-union box stores planned for the Terminal Market site.