Site condominium projects are condominium developments in which each condominium unit consists of an area of vacant land and a volume of vacant air space within which a building or other improvements may be constructed by the condominium unit owner. Each site condominium unit may also have an appurtenant limited common element reserved for the exclusive use of the owner of the condominium unit. Either the condominium unit by itself, or the condominium unit taken together with any contiguous, related common element, shall be considered to constitute a building site, which is the functional equivalent of a "lot" for the purpose of this chapter and other applicable laws, ordinances, and regulations. Site condominium projects may also include general common elements consisting of community open space, recreational areas, streets, and other areas available for use by all owners of condominium units within the project. Subject to the district zoning provisions applicable to the project's location, any land use permitted by the Ordinance may be permitted in a site condominium project.