Caddo Office Reimagined, a new co-working facility in the Lakeside Business District, is now open in Flower Mound.
The two-story, 37,000-square-foot office building opened on Oct. 1 and held its grand opening ceremony with the Flower Mound Chamber of Commerce on Oct. 14. The co-working facility offers more than 160 private office suites for individuals working independently or collaboratively, four conference rooms, unique shared co-working spaces and kitchen amenities. When fully occupied, about 240 people will be working there.
“This office concept is unique in that it provides the flexibility of a no-term lease, with 60 days cancellation notice at any time” said Tim Slaughter, a founder of Caddo. “Many small business owners, especially through the pandemic, found themselves committed to longer term leases that did not allow them to adjust to new economic circumstances. Our members were able to flex up and down in a manner that best suited their business.”
Last year, the Flower Mound Town Council established a Tax Abatement Reinvestment Zone that will save Caddo $145,000, a grant equal to 25% of impact fees ($21,000 in savings) and a building permit fee waiver of $9,500. The town of Flower Mound estimates that over the first 10-year period, the TARZ will cost the town about $174,000 in taxes and fees, but it will benefit in the amount of $416,000, resulting in the net benefit of about $242,000.
“The support from the town of Flower Mound and the Flower Mound Chamber have been incredible throughout this process for which we are exceedingly grateful,” Slaughter said. “We continue to be impressed by the thriving small business community in this neighborhood and we look forward to helping these businesses succeed in the future.”