The hospital provided this video of the proposed campus called "The Hill."
The 443-acre, mixed-use community would be built on Valley Children's main campus surrounding the Hospital and the newly opened River Vista Behavioral Health center.
There are plans for a hotel, a grocery store and more than 30 shops, set in a village-style environment, similar to River Park in Fresno.
While there's no word yet on when construction may begin, the hospital says the land is already entitled for multi-use development and meetings with Madera County elected officials have taken place.
CEO Todd Suntrapak says the project will bring in more revenue for Valley Children's to help care for some of the tiniest patients in Central California.
It would also mean more money pouring into Madera County.