A LARGE-SCALE RESIDENTIAL DEVELOPMENT is a DEVELOPMENT used predominantly for RESIDENTIAL USES, on a tract of land containing a single ZONING LOT or two or more ZONING LOTS that are contiguous or would be contiguous but for their separation by a STREET or a STREET intersection, which tract of land:

(a) has or will have an area of at least 1.5 acres and a total of at least three principal BUILDINGS, or an area of at least three acres and a total of at least 500 DWELLING UNITS; and

(b) is to be DEVELOPED as a unit:
(1) under single fee ownership or alternate ownership arrangements as set forth in the ZONING LOT definition in Section 12-10 (DEFINITIONS) for all ZONING LOTS comprising the DEVELOPMENT; or
(2) under single fee, alternate or separate ownership, either:
(i) pursuant to an urban renewal plan for the DEVELOPMENT of a designated urban renewal area containing such tract of land; or
(ii) through assemblage by any other governmental agency, or its agent, having the power of condemnation.

A LARGE-SCALE RESIDENTIAL DEVELOPMENT shall be located entirely in a RESIDENCE DISTRICT or in a C1, C2, C3 or C4-1 District, and shall in no event be considered as a GENERAL LARGE-SCALE DEVELOPMENT.