The Celina Economic Development Corp. has acquired roughly 32 acres of land near the city’s historic downtown square with plans for future park space and further development.
Celina’s EDC purchased the tract for $13 million from the Martinek family, who run a network of grain elevators, warehouses and retail feed stores throughout North Texas, city officials said.
The land is one of the last large tracts adjacent to downtown, and city officials hope it will be a key parcel in the years to come.
Celina EDC will work with the city to develop plans for the site. Tubbs said plans may include a boutique hotel, entertainment venues, or retail. The park space will complement the planned Ousley Park, a 30-acre linear park and trail system, adjacent to the site. A creek system runs through both properties.
Work will include extending walking and biking trails down to Sunset Boulevard. Stream restoration work is also likely needed, Tubbs said.
“Any property adjacent to downtown is extremely vital to the entire city’s investment,” he said. “This will really be the entrance into our inner downtown, leading to our future and current entertainment district as it expands. … We see it as a crucial piece.”
Tubbs said planning and site preparation could take more than two years. The Martinek family maintains a five-year lease back for six acres on the north side of the property where they operate grain bins and office space. Once that period ends, the full site can be developed, said Anthony Satarino, Celina EDC’s executive director of economic development.
The city and Celina EDC will seek public feedback regarding development plans.
“What we will really be looking at is a public-private partnership and either choosing one developer or multiple developers to partner with to develop (the site) in various different ways,” Satarino said.
Satarino and city manager Robert Ranc played key roles in this acquisition. Caleb Lavey with Frisco-based REX Real Estate handled negotiations for the Martinek Family, and Buddy Minett of Specialty Land Services handled negotiations for Celina.
The Celina EDC funded the purchase through its half-cent sales tax. It’s Celina EDC’s first land purchase, Satarino said.
