Today is such an exciting day for Texas Children’s and for the families we will serve for the next few decades. We have just finalized the purchase of two Texas Medical Center buildings near Texas Children’s Hospital – the Baylor Clinic Building at 6620 Main St. and the O’Quinn Medical Tower at 6624 Fannin St.
Our purchase of these two buildings from Baylor St. Luke’s Medical Center is such a significant expansion milestone – we have now added nearly 700,000 square feet of office and clinical space and 2,500 parking spaces to our medical center properties. However, the acquisition of these two buildings is not simply about buying buildings or adding bricks and mortar. It is about our ability to better serve more children, women and families who need the unique and comprehensive services of Texas Children’s. This is an investment in our mission to advance patient care, education and research.
And quite honestly, it is such a rare opportunity to be able to buy properties next to and across the street from our medical center property – one we likely will not ever have again. Realizing this, the Texas Children’s Board of Trustees, the medical staff and I discussed and examined this extensively, and we concluded that this acquisition was something in which we had to invest. It is a considerable investment in our people – specifically, our medical staff, employees and, most importantly, our patients and families. Having these new spaces will help ensure we can meet the future demands of our growing patient population, staff and workforce.
This purchase also represents something else we all can be proud of – our consistent financial stewardship. Our ability to purchase these facilities is the result of the strong and focused stewardship we have exercised in the last 25 years. Because we have been such responsible stewards of our assets and resources at Texas Children’s, we have created a solid balance sheet with very little debt. That allows us the flexibility to be quick and nimble enough to seize an opportunity like this. We were able to make this purchase without borrowing or raising money – it was completely funded by our cash reserves for capital projects. Our diligent past stewardship is paying huge dividends for our organization’s promising future.
Now that the acquisition is complete, the spaces within these new facilities will be further examined as part of our facilities master planning process. Several months ago I created a team – led by Executive Vice President Mark Mullarkey, Vice President of Surgical Services Matt Girotto, Vice President of Nursing Jackie Ward and Associate Radiologist-in-Chief Dr. Lane Donnelly – to guide this process. With the support of Facilities Planning and Development and the entire senior leadership team, they are leading development of Texas Children’s facilities master plan for the future. We know as leases expire for existing tenants in these two new buildings, those vacant spaces will provide tremendous backfill opportunities. Through the process of master planning, we will be able to identify the services that should be located in those new spaces.
Our process of strategically planning the use of all our facilities combined with our ability to add significant new space in such a prime location provides opportunities across our entire system. Today just opened a lot of doors for Texas Children’s for decades to come, and that should excite and inspire us all.
40 Responses to “TMC building acquisition: Planning for our future, growing for our people”
What a fantastic opportunity in our development and planning future care for patients and families who need our services. It’s a great time to be a part of the team at Texas Children’s!
This acquisition simply says we are creating a structure which holds true to our Mission and Vision.
What an exciting opportunity! Look forward to the future this opens up to Texas Children’s.
Impressive scope! What a benefit it will be for the patients and families that we serve!
This outstanding news and another reason why we all can be proud to be part of Texas Children’s Hospital. I am thrilled our leaders were able to recognize and act positively when this unique opportunity presented itself. Congratulations to all! Frank
This is yet another inspiring and pivotal moment in the history of this great organization. Our patients, families and staff will greatly benefit from this investment. #OneAmazingTeam
WOW that’s AWESOME!!!
Our growth over the last 20 years has been simply AMAZING and I’m so blessed to be part of it! #OneAmazingTeam
What an amazing opportunity! Another reason to be part of such a great organization that truly believes in its mission!
What a blessing!!! Texas Children’s never ceases to amaze me. Great opportunities are on the horizon, not only for our staff but the children and families we serve. I’m so proud and blessed to be a part of this great organization!
This is AWESOME!
History continues to be made before our very eyes! I was here before West Tower was even a thought and LOOK AT US NOW! What a commitment to our children who are our future! Proud to be part of the team.
Impressive alignment of strategy, opportunity, financial responsibility, and future thinking for fantastic outcomes. All that talent makes Texas Children’s the great place that it is!
Another giant step to fulfill the TCH mission & vision………so proud of this amazing team.
So excited!! This creates great opportunities for us to continue to fulfill our mission.
Thank you for always positioning Texas Children’s for the future.
Wow-such an exciting time at Texas Children’s and I feel so proud to be here and a be a part of this great milestone. The landscape for TCH in the medical center will be forever changed–such a significant point in our history. Thanks to all the led this initiative–one amazing time is right!!Congratulations to all
Fantastic news!! Having been part of the TCH Family for 2 years, I continue to be impressed with the ability of TCH leadership to move forward our mission to create a healthier future for children and women and to provide our teams the resources needed to keep moving forward in our research and clinical activities. Hats off to Mr Wallace and his team!
Congratulations Mr. Wallace and executive management team. Your vision is inspiring.
Great news! Exciting to see even more growth with the acquisition of these two beautiful buildings.
Very exciting! Yet another example of visionary leadership, positioning our organization for the future!
Congratulations to you Mr. Wallace and the Executive team! This is great news. Very excited to see the opportunity this will be bring to all TCH teams! I am proud to be part of TCH – TCP’s family/ team! The growth that has occurred in the past 17 years of my employment is unbelievable!
This is so awesome! So proud to be a part of this amazing culture and team! It’s such a blessing to be afforded the opportunity to touch the lives of so many amazing little ones. This makes my heart smile!
Any thoughts of opening a daycare for employees in these new buildings? It would really help all of us working parents!
Thank you Brenda for that great suggestion. The team leading the facilities master planning will thoroughly examine many options for use of the additional space, and we will involve staff and employees throughout the organization in that careful review. Although we are still early in the planning process, trust that we will absolutely do what is in the best interest of our staff, employees and, most importantly, our patients.
Mr. Wallace –
Thank you for your quick reply and consideration! I LOVE working for Texas Children’s Hospital!!!
What a wonderful next step forward in fulfilling the mission of Texas Children’s. Congratulations to the exceptional team that made this a reality. I am confident that these buildings will allow us to do even more for the patients and families who rely on Texas Children’s for their care. It is, once again, a very exciting time to be here!
Great forward planning. Great planning and execution is essential for success in any organization. As Dwight D. Eisenhower, general and U.S. president, once said: “Plans may be worthless. Planning is essential.”
Having a vision and inspiring those along the way to join you; the essence of leadership! Many thanks for being such a visionary leader and inspiring many others along the way-
Yet another impressive move that furthers the mission, and demonstrates our strength as an organization! I continue to be amazed at not only the footprint of Texas Children’s but of the leadership that guides us!
This is just one reason why Texas Children’s Hospital is the biggest and best pediatric hospital in the World. Your mission and vision has helped to build TCH to what it is today. What a way to make a Mark…..
I applaud you MR. Wallace and your members Mark team on a huge mile stone what a way to leave your Mark………..
So exciting! What a visionary and courageous next step for Texas Children’s, another in a long series of visionary and courageous next steps I have watched our leaders take over my 35 years at Texas Children’s! Congratulations, Mr. Wallace and the Board – thanks for taking care of our team and our mission all these years.
What a wonderful opportunity for Texas Children’s Family! Thanks to Mr. Mark Wallace and his leadership team for having the vision and laying the ground work that allowed the vision to be fulfilled!
What a fabulous strategic step to ensure the continued growth and success of Texas Children’s well into the coming decades!
I am excited to hear about this acquisition and would love for your team to consider the idea of a much needed pediatric wound and ostomy clinic.
This was such a great opportunity and what a wonderful addition to our footprint here in The Medical Center. But more importantly fulfilling our mission by allowing us to continue to provide care for the growing needs of the children and families we serve everyday!
What a wonderful opportunity to expand our space, allowing us to continually bring exceptional care to the women and children we serve. Such an exciting time for Texas Children’s!
How about offering FREE parking to our Employees who have been here for 20+ years
and 24/7 Daycare for (at a discount, or free) our Employee’s Children? Also a workout facility for the Employees? And last, but not the least, a good,healthy eating place for our night shift employees (that is open all night).
Now i’m sure more than ever, that i am in one of the most stable and reliable place to work and retire with.Congratulations to such magnificent Leadership… One very proud employee here..:)..hopefully we can find space for a Fitness Center in one of these new buildings..:) Again, congratulations Sir!
I am so blessed to be able to come to work everyday and do what I love to do with staff/people who feel like family! Texas Children’s is an amazing organization that is committed to serving. We are growing by leaps and bounds in an effort to better serve the community. The vision is expansive and the community will be healthier because of it! I’m so happy to come to work everyday and be part of the growth!
And that enterprise’s focus extends beyond the corner of Grant and Craycroft, she said, although she would not share details of the hospital’s future plans.