Renaissance Place will be a 21st century Smart Growth mixed-use, transit oriented re-development of downtown Naugatuck incorporating existing historic buildings and public spaces with new construction, creating a residential population, upscale street level retail, restaurants, entertainment, business, and other compatible uses. A primary goal of the project is to be energy independent, by producing all the energy the project needs on site.

The project is planned to contain 500,000 square feet of retail, up to 1,800 units of market-rate housing, three hotels, and office, medical and technology spaces, along with cultural venues. The Development Agreement provides that Renaissance Place can be developed in phases over a period of up to 15 years, but the intent of the Developer is to complete the project as soon as possible, consistent with market conditions.

The first phase is planned to include approximately 850,000sf of space with 400,000sf located in an existing building, which will be remodeled, and 450,000sf in new construction. Phase one uses will include approximately 380 units of apartments and condominiums, 170,000sf of technology space, 225,000sf of street front retail and services, and 45,000sf of entertainment, plus a museum and an equity theatre. Alternative energy technology and green design concepts will be included in each phase.

The Development Agreement provides that public funds will be used for the construction of project related infrastructure, site preparation, and parking.