Parallel has broken ground on a 750-bed student housing property in College Station, Texas, serving students at Texas A&M University. BOKA Partners, Rogers O’Brien Construction and Alison Royal Interiors are handling property management, construction and design. RLG Engineers, Mitchell & Morgan Civil Engineering, V3 Engineers, Infinisys and SMR Landscape are also part of the project.
Scheduled for completion in the summer of 2024, the community will comprise a 10-story building with fully equipped studio, one- and two-bedroom floorplans. Common-area amenities will include a gaming lounge, full-service smart market, swimming pool, outdoor study and kitchen area, fitness room and sky lounge.
Located at 401 First St., the community will be within a mile of the Texas A&M University campus, Kyle Field and the Student Recreation Center. College Station city center is less than 1.5 miles of the property, offering students easy access to several dining options and entertainment hubs. Several retail options, such as a Target and H-E-B, are less than 3 miles away from the property.
The institution shows positive market fundamentals, registering a 2 percent annual enrollment growth and an 11.6 percent year-over-year prelease growth, as of March. Currently, there are 36 dedicated properties adding up to some 30,000 bedrooms serving students at Texas A&M University. Another student housing property, also developed by Parallel, is under construction in the area and will add 802 beds. The project is expected for completion before the 2023 fall semester.