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Gutierrez Co. Files Plans for Former Medical Center

STONEHAM, MA-Despite the recent downturn in the high-tech sector, Gutirrez Co. has filed plans with state environmental officials to develop an executive park on the grounds of the former Boston Regional Medical center here.

By Naomi Grossman | Updated on December 21, 2000

STONEHAM, MA-Gutierrez Co. filed a proposal with state environmental officials to develop the former Boston Regional Medical Center. The Burlington-based company bought the 41-acre property this spring for $20 million. The Lahey Clinic is an equity partner in the property.

In the proposal, Gutierrez plans a $50-million renovation and expansion of the site, which is located among hundreds of acres of parkland controlled by the Metropolitan District Commission. The development company did not return calls by press time, but the plan calls for developing three new office buildings totaling 540,000 sf of space as well as restoring 300,000 sf of existing space. The property is located off Interstate 93 and Route 28 and in close proximity to Boston and Cambridge. The development company is renaming the facility the Stoneham Executive Center.

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