Someone is spending $1 million to turn the entire third floor of Center Place 1 into a corporate office with its own cafe, conference rooms and lounges. The building's owner is footing the bill.
A state construction filing with the Texas Department of Licensing and Regulation shows the project, registered as "VTX Office Flower Mound," covers 16,000 square feet at 3101 Churchill Drive. Construction started June 1 with a target completion of Nov. 1.
The filing does not name the incoming company, its headcount or its business type. The only tenant identifier is a contact named Spencer George. No public company called "VTX" with a confirmed Flower Mound presence has surfaced.
The TDLR permit confirms the building owner, Churchill Flower Mound LLC, is funding the $1 million fit-out rather than the tenant. Owner contact Chase Bryant is listed on the filing. Commercial listings on CommercialCafe still show the 16,006-square-foot third floor as available for lease as of Aug. 24, suggesting the deal has not been publicly announced.
The building
Center Place 1 is a 45,778-square-foot Class B office building on 2.67 acres at the intersection of Cross Timbers Road (FM 1171) and Long Prairie Road (FM 2499). Built in 1998, it has anchored that stretch of Churchill Drive for nearly three decades. The lower floors house medical and professional tenants including Primary Care Associates of Texas and Pediatric Physicians. Texas Health Presbyterian Flower Mound sits less than a mile away.
One tenant taking the full third floor would occupy roughly 35% of the building.
Millions more flowing into the property
The third-floor fit-out is not the only capital going into Center Place 1. On Aug. 12, PACE Equity Finance and Lone Star PACE announced $1.7 million in C-PACE financing for building-wide energy and water upgrades, including high-efficiency HVAC, lighting improvements and a solar-covered carport. Those upgrades are projected to cut annual energy use by 6% and water use by 3% while generating about 176,070 kilowatt-hours of renewable energy per year.
The C-PACE financing covers the broader building; how much of it overlaps with the third-floor project is unclear. Together, the two filings represent at least $2.7 million committed to the property in 2026.
Bert Belanger, originations leader at PACE Equity Finance, said in the Aug. 12 announcement that "C-PACE was a great fit for Center Place I, serving as an ideal debt capital solution for the tenant improvements and solar."
What's next
The design firm on the project is Arcuatio LLC, a Lucas-based architecture firm specializing in renovation and adaptive reuse with eight active TDLR-registered projects totaling $5.2 million across DFW and Central Texas.
If the Nov. 1 target holds, the new occupant could be operational before year's end. No job postings or public announcements from the incoming tenant have appeared as of Aug. 24.
