The article didn't really convince me that the homes are going to be significantly devalued or that people are going to be thrust into poverty. It says so, and dismisses out of hand claims to the opposite, but doesn't give much in the way of evidence for its points.
I'm sympathetic to the agreement for the original donation. If the original deed said that the stipulation of donation was not only "only use this for a park" but also "never sell to anyone who might do something else," then I do think the city owes some very large compensation amount to somebody. If not, though... the city sold the land in 2008 to the Taylor Economic Development Corporation, at which point it doesn't really sound like the original deed has much value. If you buy land from someone privately and 18 years later it turns out it was gifted to them with the stipulation that they never sell, how much recourse should another party really have to stop you doing what you want with that land?