(Carl Cronan is editor of Real EstateFlorida.)

BONITA SPRINGS, FL-A buyout or bankruptcy appear to be the only remaining options for WCI Communities Inc. now that the luxury home and condominium developer has apparently canceled its restructuring plans with outside parties, including billionaire investor Carl Icahn. Observers say the move may adversely affect sales of units in unfinished condo towers throughout Florida.

WCI, which has plans to build 15,000 homes along the East Coast at prices up to $10 million, issued a brief statement Monday that “although it continues to review and evaluate alternative restructuring proposals, WCI is not currently engaged in discussions with affiliates regarding such proposals.” The company added that a “special committee” formed in June to review and evaluate proposals has been dissolved.

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