A townhouse development schedule shall be submitted for review to the planning and zoning board, who may approve, approve subject to conditions or disapprove. When submitted, the development schedule shall indicate the staging of construction and the staging of open space or other common use areas for conveyance, dedication or reservation; the geographic stages in which the project will be built; the approximate date when construction of each stage shall begin; and its anticipated completion date. Provision for the construction of cultural and recreational facilities which are shown on the site plan shall proceed at an equivalent or greater rate as the construction of the dwelling units.