The article describes the problem as a building that extends above the surrounding 3-story neighborhood. (5 if I remember right) That is the problem to be solve

The article describes the problem as a building that extends above the surrounding 3-story neighborhood. (5 if I remember right) That is the problem to be solved, so carving off the top couple stories would do the job. There are less-practical solutions. One could pull out the 2nd and 4th stories, like playing a game of Jenga. One could shove the whole building down by two stories, fully intact, giving it two basements. So "drop" seems especially fitting here. The highest point needs to drop by two stories.