Hire an attorney, but not just any attorney - the one that has gone to court to fight the developers and won...
Why? - Because the situation has drastically changed from 2009-2010, and courts treat things differently, based on previous cases - and some were not in favor of the buyers.
There are still steps you can take to prevent major problems.
Best of luck,
Hope this helps,
Beachfront Realty, Inc.
Had you entered into a regular (FAR-9) Purchase Contract, which are all standard, I could inform you of your options. However, you have entered into a Builders Contract and each builder has their own rules and regulations. I could say you might lose deposit or that you could extend closing date, but that would be speculation on my part. I highly suggest you have an attorney read through to see what options you have.
The second stage of development for Midtown has been cancelled as I understand. Here's an article with photos about Midtown Shops.