If construction, erection, location, alteration or use of a building or land which is authorized by a zoning permit issued by the Zoning Officer, under the provisions of § 180-101 hereof, is not substantially undertaken within 12 months of the date of issue or authorization or if there is a failure to comply within the twelve-month period with any conditions imposed, such zoning permit or authorization shall be void. Nothing herein shall preclude the renewal of such permits or authorization upon proper application, provided that any such renewal or authorization granted 24 or more months after the date of the original authorization or permit shall be subject to the use, area, parking, height and other requirements which are applicable at the time of such renewal.