In the case of a subdivision or site plan of 150 acres of more, or site plan for development of a nonresidential floor area of 200,000 square feet or more, the approving authority may grant the rights referred to in this subsection for such period of time, longer than two years, as shall be determined by the approving authority to be reasonable taking into consideration the number of dwelling units and nonresidential floor area permissible under final approval; economic conditions; and the comprehensiveness of the development.
The applicant may apply for, and the approving authority may thereafter grant, an extension to final approval for such additional period of time as shall be determined by the approving authority to be reasonable taking into consideration the number of dwelling units and nonresidential floor area permissible under final approval; the number of dwelling units and nonresidential floor area remaining to be developed, economic conditions, and the comprehensiveness of the development.