Celina Real Estate will take inspiration from the old gas station on Ohio Street for the redevelopment project. (Rendering courtesy city of Celina)
Downtown Celina is set to get a $7.5 million makeover, according to a Sept. 9 city news release.
Celina City Council approved an economic incentive agreement with developer Celina Real Estate for two projects at a Sept. 8 meeting: renovation of the Mayer Building at 313 W. Pecan St. and redevelopment of the old gas station at 102 N. Ohio St.
Both projects seek to reactivate key downtown properties while maintaining the historic character of downtown, said Anthony Satarino, president of the Celina Economic Development Corporation, in his presentation to council.
“Downtown is the heart and soul of Celina,” Mayor Ryan Tubbs said in the release. “This partnership represents an important investment in the future of Downtown while building on the character and sense of place that make Celina special.”
The details
The existing Mayer Building at 313 W. Pecan St. will be renovated into a two-story restaurant with at least 5,000 square feet of space, according to Satarino’s presentation.
The Mayer Building previously housed a grocery store. (Courtesy city of Celina)The Mayer Building will be turned into a two-story restaurant.(Rendering courtesy city of Celina)
The old gas station at the corner of Ohio Street and Walnut Street will be redeveloped as part of a separate project with the same developer, Satarino said.
The previous gas station will serve as inspiration for a faux facade on a new two-story building with roughly 7,200 square feet of retail and restaurant space and 5,200 square feet of office space, per the presentation.
“While I am disappointed the existing gas station isn’t able to be rehabilitated and saved, I look forward to new memories being made where it once stood,” Tubbs said in a post on social media.
By the numbers
Celina Real Estate is expected to spend $6 million on the gas station redevelopment and $1.5 million on the Mayer Building for a total investment of $7.5 million, according to the release.
In exchange, the developer will receive up to $2.3 million in incentives from the city.
Each project must meet separate spending and construction benchmarks to receive the maximum incentive, according to the terms of the agreement.
Celina Real Estate can receive up to $800,000 in incentives for work on the Mayer Building and up to $1.5 million for the gas station redevelopment, per the agreement.
The funding source
The city’s incentive payments to Celina Real Estate will be funded through Tax Increment Reinvestment Zone No. 11, according to the release.
A tax increment reinvestment zone, or TIRZ, is a special taxation district where taxes are used to attract economic development intended to generate enough additional tax revenue to offset the original investment.
Celina officials created TIRZ No. 11 in 2017 to support development in downtown Celina, according to previous reporting.
In July, council also used TIRZ No. 11 funds to help fund an economic incentive agreement for Trackside Junction, a $15 million downtown redevelopment project at 111 W. Pecan St., which is eligible for up to $3.05 million worth of incentives.
“This is exactly the type of strategic reinvestment that helps Downtown Celina remain economically active, welcoming and distinctive,” Satarino said in the release.
Looking ahead
The incentive packages for both projects include construction deadlines.
Construction on the Mayer Building must start by Jan. 1, 2028, and wrap up by June 1, 2029, and redevelopment of the gas station must start by Oct. 1, 2028 and finish by March 1, 2030, per the release.
