This paper analyzes a housing project in Santiago, Chile that now lies in ruins and has become a contested memory site. The project was once an ambitious, modernist project that housed former squatters during Salvador Allende’s socialist presidency (1970–1973) and its demise has subsequently become emblematic of the violent processes of neoliberal urban restructuring that marked the dictatorship of Augusto Pinochet (1973–1990). Yet efforts to memorialize the site also contain within them certain silences and elisions, gaps which can help to reveal the complex, embedded nature of liberal property relations in Chile. These relations underscore certain dynamics through which squatters have historically been able to gain housing rights and a foothold in the city. They also provide a key location through which to better understand the specific contours of neoliberalism’s trajectory, including its haunted forms of ruination, its points of tension, its limits, and the making of its counterpublics.