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"the Latin Village could have been reborn on exactly the same spot with vastly better facilities, helped by initially discounted rents to help the traders find their feet"

This casual comment is exactly the point you seem to be missing. Initially discounted rents? So how quickly will they go up, and by how much will they go up? To help the traders find their feet? They already have established profitable businesses - yet somehow people should be grateful that some big redevelopment will give them the gift of discounted rents for a limited period? If there's money to be made in redeveloping the site, why can't the traders be given ownership of their shop in return for the disruption, so they can genuinely have long term security for their business.

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