The firm earlier this month signed a development agreement with the Borough of Naugatuck and the Naugatuck Economic Development Corp. for the project to be built on a 60-acre brownfield site on the Naugatuck River shoreline.

Renaissance Place will be built out over four phases and will include 500,000 sf of retail space; more than 1,500 condominiums, apartments, townhouses and lofts; two hotels and a technology center that will showcase the development and implementation of energy independent technologies, company officials say.

The first phase, whose planning is actively under way, will include approximately 387 residential units, 223,800 sf of retail and restaurants, entertainment venues and 170,000 sf of tech/flex space. A company spokesman says construction on the first phase could begin in the next 12 to 18 months. Financial partners in the venture were not disclosed.