Way too expensive in both money and political capital. I remember the guy holding out at the old Barclay's center construction site for years until the group just paid him an insane amount of money.

If you try to claim any land as a governing body you'd get protested by any number of "Historical conservationists" groups on top of your political opponents taking the opportunity to call you. Capitalist monster who hates the working class.

On the money side absolutely none of those residents will move out unless the city pays them an unholy amount of money. They know this and the city knows this.