Children’s Hospital Los Angeles on Monday announced that longtime supporters John and Marion Anderson have made a $50 million gift for its new hospital building, which will be named in the couple’s honor.

The $636 million, 317-bed facility on Sunset Boulevard is scheduled to open its doors on July 10 as the Marion and John E. Anderson Pavilion, hospital officials said.

John Anderson, 93, is the billionaire founder of Topa Equities Ltd, whose holdings include Budweiser distributor Ace Beverage Co., several automobile dealerships in Thousand Oaks, and commercial, industrial and residential real estate properties. Marion Anderson is a longtime member of the Children’s Hospital board of trustees.

“This has been a labor of love, and I’ve had such great partners on this journey,” she said in a statement.

The size of this latest gift eclipses the $25 million donation that Anderson made last month to his namesake UCLA Anderson School of Management – the largest such gift in the school’s history. It’s also the second gift that the Andersons have given to Childrens Hospital. In March, they joined with entertainment mogul Haim Saban and his wife Cheryl to give $10 million toward construction of a bridge over Sunset Boulevard to link the hospital’s acute care and research campuses.

“We are thrilled beyond words by Marion and John’s gift, the latest in a long line of generous support from these two leaders of the Los Angeles philanthropic community,” said hospital Chief Executive Richard D. Cordova in a statement.