SAN JOSE-Barry Swenson Builders will finance and construct a children’s medical center in San Jose for a guaranteed maximum price of approximately $5 million. The construction firm has agreed to construct a 15,000-sf center for the Silicon Valley Children’s Hospital Foundation, which has been working to begin this project for two years.

The foundation has raised more than $500,000 toward the project and is aiming to raise $1 million more by next year for medical equipment and additional costs.

The foundation has been eager to start development on the project as they hope the facility, which will be named the Silicon Valley Children’s Medical Center, could attract top pediatricians to the valley. It will also provide San Jose families with a nearby children’s hospital, which the city currently lacks, in the event of an emergency.

Currently, the Bay Area children’s facilities are located in Palo Alto, San Francisco and Oakland, which is too far for families to drive for urgent medical care.

The medical center will be fairly small, housing only eight doctors and a surgical unit, and foundation members hope to locate the center next to the Good Samaritan Hospital. However, the hospital’s location has not been determined and the project will remain on hold until additional funds are raised.