Businesswoman Jill Barrett is creating an exciting new market in downtown Waco.
Jimmy Don Holmes and Joanna Gaines

In recent years, downtown Waco has undergone an exciting renaissance in large part thanks to Chip and Joanna Gaines' expanding Magnolia empire. Now, the Texas town is about to enter a new stage of its transformation.

Businesswoman Jill Barrett has purchased Brake & Clutch Supply, directly across Eighth Street from a Magnolia parking lot and hopes to transform the building and another one next door into "Eighth Street Market, a shopping, dining, drinking and relaxing outpost," according to the Waco Tribune-Herald. While the details of the new gathering space haven't all been ironed out, one thing is for sure: Metal craftsmen Jimmy Don Holmes, best known for his guest appearances on Fixer Upper, will open a store here.

"He already operates a 36-foot-long trailer in the [Magnolia] parking lot, selling products priced at $40 to $150 apiece, and estimates 400 people a day drift over from Magnolia Market to browse and take selfies with him," writes Mike Copland in the Waco Tribune-Herald piece. Currently, Holmes also runs a JDH Iron Designs shop in nearby Valley Mills.

As for the new store? "[Holmes] will have his own space attached to Brake & Clutch, with his own storefront, and we will work on preparing his place first," Barrett tells the Waco Tribune-Herald, noting that she's hoping the new store is completed by the summer.

Already eager to pick up some Jimmy Don wares? You can browse his online shop here, which sells hats, flag holders, t-shirts, his signature inspirational wall signs, and more.

WATCH: Reese Witherspoon Hangs Out With Joanna Gaines & Jenna Bush Hager During Book Tour Stop in Waco

And for those of you packing your bags to head to Waco, check out these 10 must-take photos around town and get excited for a superb vacation.