A planned $90 million shopping center will bring Celina its first Target under an economic development agreement approved by the City Council on Nov. 10. Called Celina Towne Crossing, the project is planned for the northeast corner of Preston Road and Outer Loop, adding retail and dining space to one of the city's growing commercial corridors.
The development will cover approximately 45 acres and provide 359,000 square feet of commercial space. Target will serve as its main anchor, occupying a planned 145,000-square-foot store. The retailer will be joined by three junior anchor stores, giving the shopping center four anchor spaces in total.
Beyond those larger stores, the plans call for two full-service restaurants and four strip retail centers. Together, those components will expand the shopping and dining options available to residents as Celina continues to grow. The project follows the arrival of two other major retailers, the city's first Walmart Supercenter and Costco.
The site plans also include features beyond the commercial buildings. A detention pond will receive landscaping improvements and become a water feature. Space is planned for public art and monuments, with those elements intended to form a gateway into the development.
The city's agreement ties financial incentives to the developer's investment and delivery of the planned commercial spaces. Celina will waive about $7.5 million in building and impact fees in return for an investment of at least $90 million in buildings and infrastructure. The fee waivers are part of the economic development arrangement approved by council members.
To qualify for those incentives, the developer must deliver the Target building and all three junior anchor spaces by June 1, 2029. A later deadline applies to the remaining retail and restaurant components. Both full-service restaurants and the four strip retail centers must be delivered by Dec. 1, 2029.
Those requirements establish deadlines for delivery of the spaces, rather than necessarily setting dates when customers can begin shopping or dining there. The businesses' official openings may differ from the dates specified in the incentive agreement.
Celina Economic Development Corp. President Anthony Satarino said the city expects to more than double its investment within 10 years. The agreement advances another major retail project as Celina's commercial offerings expand alongside the community.
