Currents on the Charles is a luxury four-story wood frame, riverside apartment community located on a former parking lot along the Charles River at 36 River Street in Waltham, MA. The M-shaped building, clad in brick along the urban street sides, hosts 200 rental apartments on a 4.1-acre site. The complex features numerous floor plans including studio, one, two and three bedroom layouts. The community includes a package of high-end amenities such as a resort-style swimming pool with an outdoor kitchen featuring gas BBQ grills and wet bar, a state-of-the-art fitness center and sports lounge, and an internet café. Each unit is equipped with quartz countertops, stainless steel appliances, high-quality cabinets and lighting, walk-in closets, and an open kitchen/living design with wood floors throughout. Select residences also include private balconies that overlook the Charles River as well as walk out patios for first floor residences.
The building also offers a two level steel framed, below-grade parking structure that includes a new 35-foot retaining wall built along River Street. The parking garage offers up to 400 parking spaces.
Construction commenced in June of 2013 and was completed in May of 2015. The building was turned over in three phases with an overall schedule of 24 months. The first of which included the leasing office, fitness center, media room and lounge. The two remaining blocks finished 60 days each after the first block.
The project architect is Cube 3 Studio of Lawrence, MA. Cube 3, founded in 2003, is a dynamic and responsive design firm with the vision and conviction to provide thoughtful design solutions. Their portfolio includes academic, corporate, healthcare, hospitality, residential, and retail projects. They work on a local, regional, and national basis, with completed and ongoing work in 23 states.
The general contractor is Callahan Construction Managers of Bridgewater, MA. Callahan is a full service construction company, with over 60 years of experience, serving the New England and Mid-Atlantic regions. They provide a wide range of preconstruction and construction management services, and execute large- and small-scale building projects for clients in the senior housing, residential, hospitality, corporate, and retail markets. Callahan has extensive experience in the commercial construction industry and has worked with many large New England developers and property managers.
The owner and developer of the property is Hines. Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet.