Before the Chinese traded electronics in Shenzhen, they traded it in Hong Kong. Yes, as Hong Kong transformed into a financial center, it got rid of the electronics traders.
So why did they force a sale price on the people there?
If as finance people we believe in market forces they should have bought the stores out at market prices.
It's another heads-we-win-tails-you-lose situation.
So $30,000 in 1962 was probably very generous, but these business owners held the WTC project ransom by demanding unreasonable payouts.
The wikipedia article mentioned that it went to court.
Besides, didn't the Twin Towers have a massive occupancy problem? I recall that being the reason why so many government entities were forced to move there...
Right, confiscation from private owners to use it for erection of a building no one needs is a very efficient use of land. The project will require astronomical up front expenses, will stay vacant for almost 2 decades, and have endless problems until its last day (fires, terrorist acts, issues with the structure). But who cares, it's efficiency we are talking about.