Score another win for Bruce Ratner, who signed a "memo of understanding" with the City yesterday to develop Frank Gehry's Nets Stadium in downtown Brooklyn. Lurking in the shadows, however, is rival developer Shaya Boymelgreen, who plans to convert a bread factory into a hotel where Ratner plans to build. Brownstoner dryly notes, "Frankly, neither option seems particularly appealing to us."
· Deal Is Signed for Nets Arena in Brooklyn [NYTimes]
· Rival Muscling in on Ratner [NYDailyNews via Brownstoner]