Plano is buzzing with news of the looming Collin Creek Mall redevelopment. The mall opened in 1981 and was once the place to be. But mall traffic has declined steadily since the 1990s.

Centurion American, the development company behind the stunning renovation of the historic Statler hotel in Dallas, has purchased and outlined plans for a massive renovation of Collin Creek Mall. The modernized development will include housing, retailers, restaurants, green spaces, a hotel, lagoon and more. One of the more noticeable differences will be the absence of cars, as the majority of parking will be located underground.

On a popular Facebook group dedicated to memories of the mall in its heyday, multiple dates have been circulated as the final operating day of the mall. Courtney Morrow, director of marketing and communications for Centurion American, said that although certain leases with remaining tenants may end earlier, the closing date for the mall is slated for July 31.

So, how soon will changes unfold? At a May 7 presentation to the Historic Downtown Plano Association (HDPA), Sean Terry, a vice president at Centurion American, confirmed that Plano residents can expect to start seeing activity on the site in August. And ultimate completion date? Of course, that could change but we’ve heard estimates of five to six years from Centurion American representatives.

JCPenney, the last remaining big-box anchor of the current mall, will stay open for business during the entire renovation, moving into a new location at the front end of the project. Phase one construction will consist of the new JCPenney building, indoor retail with a grand atrium, the hotel, restaurants, lagoon and some multi-family housing.

Another question was brought up at the HDPA presentation: Will Centurion American make efforts to save the two mosaic tiled murals on the facade of the former Macy’s space, originally a Sanger-Harris store? Sean Terry confirmed that the mall owners will make every effort to carefully disassemble the mural in large sections. The task does not promise to be an easy one, and Terry estimated that they’d be lucky to keep 60 percent of the mural intact. Centurion American hopes to preserve the undamaged portions of the mural and reuse them somehow in the design or adornments of the new development.

Plano residents are now more nostalgic than ever about the end of Collin Creek Mall, with some making one last trip to visit the mall before deconstruction. Fret not if you haven’t made your last pilgrimage yet: Centurion American has promised to release details soon for a big bash in late July to give everyone the chance to say goodbye to the mall as we know it, and to party like it’s 1999.