Valley Children’s Healthcare Unveils Plans for 443-Acre Mixed-Use Project
The development will be built on hospital-owned land in Madera, Calif.
By Nick Trombola August 29, 2024 5:50 pm
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It’s not often that a health care network opts to develop a 443-acre mixed-use community, but California’s Valley Children’s Healthcare is in the midst of doing just that.
The network on Thursday announced plans to build The Hill, a massive project on land it owns adjacent to Valley Children’s Hospital and River Vista Behavioral Health in the city of Madera in Central California.
Once completed, the district will include 1.2 million square feet, featuring 348 apartment units, a 173-key hotel and retail space, along with another 1 million square feet of medical offices and 14 miles of walking trails.
The reasoning behind the development is multifaceted. Revenues from the development will help support patient care and hospital operations amid the closures of dozens of other acute-care hospitals across the country in recent years, according to the network. The development is also expected to boost the local economy via new spending, tax revenue and tourism.
“Our patients and families need more than a hospital, and we need to ensure there is a sustainable financial future for Valley Children’s,” Todd Suntrapak, Valley Children’s president and CEO, said in a statement.
Exact details on project cost, construction timelines, development partners and tenants were not immediately available, as the project is still in early planning phases, according to a spokesperson for Valley Children’s. However, the spokesperson added that funding may come from a variety of sources, such as Valley Children’s investment portfolio or from third-party investors.
No operational funds or donations made to the network will be used toward the project, the spokesperson said.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
