Palmer cut back plans for one of the buildings by 10 floors andthe other by four.
Another developer, the Related Group of Florida, simply walkedaway from its proposal to build a 38-story apartment tower, alsoalong the New River, rather than revise its plans to accommodatethe city's get-tough posture on building height.
Smith Property, a unit of multifamily developer Charles E. SmithResidential Realty based in Arlington, VA, paid $8 million when itbought the new Omni site from Atlantic Gulf Communities Corp. ofBoca Raton. By selling to Omni for around $9 million, Smith made agross profit of upwards of $1 million in less than a year.
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