Downtown Celina Is Getting a $7.5 Million Makeover. What It Means for Nearby Homes
What is happening to downtown Celina, and does it affect nearby home values?
On September 8, 2026, the Celina City Council approved up to $2.3 million in performance-based incentives to support $7.5 million in private redevelopment downtown. The plan renovates the historic Mayer Building at 313 W. Pecan St. into a two-story restaurant and replaces a roughly 1950s gas station at 102 N. Ohio St. with a two-story retail, restaurant and office building. Construction isn’t scheduled to start until 2028, so this is a long-term story. For homes near the square, a more active, walkable downtown has historically been a plus, but the payoff will come over years, not months.
By Stacy Cate, Realtor | Compass RE Texas, LLC, September 17, 2026
I’ve been driving around the Celina square for a long time.
I remember when a Friday night downtown meant a handful of cars and a lot of quiet. That’s changed. And the city just made a decision that tells you where it wants downtown to go next.
Here’s what was approved, what the timeline really looks like and what it could mean if you own or want to own a home near the square.
What Celina actually approved
The City Council approved an economic incentive agreement with Celina Real Estate for two downtown properties.
- The Mayer Building, 313 W. Pecan St.: a $1.5 million renovation of the historic former grocery store into a two-story restaurant with more than 5,000 square feet of space. The city’s incentive is up to $800,000.
- 102 N. Ohio St.: a $6 million project replacing an old gas station of about 1,100 square feet with a two-story building of roughly 12,400 square feet, including 7,200 square feet of retail and restaurant space and 5,200 square feet of office space. The city’s incentive is up to $1.5 million.
The incentives come through the city’s Tax Increment Reinvestment Zone No. 11, and they’re performance-based. The developer has to deliver before the money flows.
Developer Anthony Satarino said, “This is exactly the type of strategic reinvestment that helps Downtown Celina remain economically active, welcoming and distinctive.”
The timeline, and why patience matters
This is the part to be clear-eyed about.
The Mayer Building construction window runs from January 1, 2028 to June 1, 2029. The Ohio Street building runs from October 1, 2028 to March 1, 2030.
So nothing new is opening on the square next spring from this agreement. If someone tells you to buy downtown today because the restaurants are “coming soon,” that’s getting ahead of the real schedule.
What is closer is the city’s new Downtown Center, which Celina’s budget planning has staffed for a February opening, and the separate Trackside Junction project, a $15 million mixed-use development with about 15,000 square feet of commercial space.
Why this is happening in Celina right now
Celina has been named the fastest-growing city in the country. Census Bureau estimates put its growth at 24.6% from July 2024 to July 2025, adding more than 12,700 residents in a single year.
Most of that growth has landed in master-planned neighborhoods spread out from the old town center. The city’s challenge is making sure the historic square doesn’t get left behind while rooftops go up everywhere else.
These incentives are Celina betting on its downtown as the heart of the community, not just a pretty backdrop.
What it means if you own or buy near the square
A lively, walkable downtown tends to support home values for the neighborhoods closest to it. We’ve watched that pattern play out around historic downtown McKinney and in Frisco’s newer districts.
That upside comes with trade-offs. Construction traffic, parking pressure and more evening activity are all part of a busier downtown.
If you’re buying, homes within walking distance of the square are a different product than a new build in a master-planned community farther out. Older lots, more character and fewer HOA rules, but also fewer amenities like pools and trails. Knowing which lifestyle you want matters more than chasing a headline.
If you’re selling near downtown, this is a real talking point for buyers. It just needs to be framed accurately, as a 2028 to 2030 story, not an immediate one.
Frequently Asked Questions
What was approved for downtown Celina?
The City Council approved up to $2.3 million in performance-based incentives for $7.5 million in private redevelopment, including a restaurant in the historic Mayer Building and a new two-story retail, restaurant and office building at 102 N. Ohio St.
When will the new downtown Celina buildings open?
Not soon. Construction on the Mayer Building is scheduled between January 2028 and June 2029, and the Ohio Street building between October 2028 and March 2030.
Who is the developer?
Celina Real Estate is the developer on both properties.
Is Celina still the fastest-growing city in the U.S.?
Census Bureau estimates released in 2026 ranked Celina the fastest-growing city in the nation, with 24.6% growth from July 2024 to July 2025.
Will downtown redevelopment raise home values near the Celina square?
Active, walkable downtowns have historically supported nearby values, but results depend on the specific street, the home and your timeline. With construction years away, any impact will build gradually.
The bottom line
Celina is putting real money behind its historic downtown, and that’s a good sign for the square’s long-term future. Just keep the timeline in view. If you’re weighing a home near downtown Celina versus a newer neighborhood farther out, let’s compare them side by side with real numbers.
Get the Buyer’s Guide or reach out anytime and I’ll walk you through what’s happening on the streets you’re considering.
About Stacy Cate Stacy Cate is a Realtor with Compass RE Texas, LLC, serving North DFW’s luxury and lifestyle homes across Prosper, Celina, McKinney, Frisco and the lake markets of Bois d’Arc Lake and Lake Texoma. With 30+ years of local roots, deep community ties and CNE, CLHMS, SRES and NHSAC designations, Stacy guides clients, especially those navigating legacy transitions and life-stage moves, with clarity, privacy and heart.
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