Industrial giant Caterpillar is digging further into its Irving headquarters expansion, and the work is now expected to top $50 million, according to recent state filings.
A filing with the Texas Department of Licensing and Regulation last week shows that Caterpillar plans to renovate about 14,000 square feet of office space at 901 W. Walnut Hill Lane as part of its “Project Stone” work.
The estimated construction cost for the work is $16 million. The work was expected to begin Tuesday and finish by October 2027.
The renovation appears to be separate from a previous $36 million filing that outlined plans to renovate just over 100,000 square feet in the same building. Construction on that project was expected to begin last month and finish by August 2027.
Details in TDLR filings are preliminary and subject to change without notice. Caterpillar has offered few specifics about the expansion. A company spokesperson did not respond to emails or calls about the work before publication.
The Walnut Hill campus was once the headquarters of jewelry retailer Zales. The additional building will provide more workspace and a place to host dealers, customers and visitors, Caterpillar previously said.
Built in 1982, the three-building former Zales complex in Las Colinas contains more than 400,000 square feet of office space. The property also includes a four-level parking garage.At one time, the office building housed nearly 3,000 workers, according to previous Dallas Morning News reporting.
Caterpillar moved its global headquarters from Deerfield, Ill., to Dallas-Fort Worth in 2022.
The Fortune 500 company has more than 800 employees at Williams Square and roughly 6,600 statewide. The firm has had a presence in Texas since the 1960s.
Caterpillar reported $67.6 billion in sales and revenues in 2025. It is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company ranked 64th on this year’s Fortune 500 list.
In the second quarter of 2026, Caterpillar reported sales and revenues of $20.5 billion, a 24% increase from the second quarter of 2025. The record-breaking quarter came largely from Caterpillar’s power and energy division, largely driven by power demands from the AI data center boom.