Post by Gondola Project
A quick look at some of the things that make urban redevelopment work (or not):
World infamous spike house in Chongqing China. Owners fought off developers for 3 years before finally vacating the site.
Definition of a “Spike”: A holdout threatening a larger development plan
Percent of world’s population now living in urban areas: >50%
Urban growth in Seattle between 2005-2008: 10,600 housing units
Ms. Edith Macefield: Seattle’s infamous spike
Compensation offered but rejected by Ms. Macefield: $1 million
Ultimate fate: “UP” movie promotion house
Austin Spriggs: Washington D.C.’s spike
Cost of home purchase in 1980: $135,000
Assessed home value in 2003: $200,000
Compensation offered but rejected by Mr. Spriggs: $3,000,000
Ultimate fate: Future pizza shop
Chinese equivalent to a spike: Nail House
Wu family: Owner of Chongqing’s spike
Number of former residents living nearby Ms. Wu: 280
Compensation given to neighbours: $320,000/household
Compensation seeked by Wu family: $777,000
Cai Zhuxiang: Owner of Shenzhen’s spike
Compensation offered: $650,000
Compensation received before vacating site: $1,000,000
Score for US developers: 0
For Chinese developers: 2
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Want more? Purchase Cable Car Confidential: The Essential Guide to Cable Cars, Urban Gondolas & Cable Propelled Transit and start learning about the world's fastest growing transportation technologies.
