Parallel Announces 23-Story Student Housing Development in College Station, TX

New High-Rise Project at 250 Church Avenue to Bring 500 Student Beds to Northgate by 2027, Marking Parallel's Third Community Near Texas A&M University

AUSTIN, TEXAS / ACCESS Newswire / June 18, 2025 / Parallel, a national real estate company, in partnership with Kayne Anderson Real Estate, announces the loan closing and commencement of construction of an upcoming student housing development at 250 Church Avenue in the heart of College Station's Northgate district. Construction financing has been provided by BMO Bank, N.A.

The new development marks the third community that Parallel will deliver to serve Texas A&M University, reinforcing their commitment to elevating the living experience in College Station.

"We're proud to expand our presence in College Station," said David Pierce, principal at Parallel. "With the support of BMO Bank and a best-in-class team of partners, we're excited to bring another transformative project to the Texas A&M student body."

Rising 23 stories above Northgate, the property will comprise 148 units across a mix of studio, 1-, 2-, 3-, 4-, and 5-bedroom floor plans, including townhome-style residences, offering a total of 500 beds. The development broke ground recently and will be completed in the summer of 2027.

The project's development team includes Rhode Partners, A Royal Interiors, Mitchell & Morgan, RLG Consulting Engineers, and Roger's O'Brien serving as the General Contractor. Design Build partners include Power Design Inc. and Kilgore Mechanical.

For additional information, please visit https://www.parallel-co.com/250-church-collegestation.

About Parallel

Parallel is an Austin-based real estate development firm specializing in delivering complex mid-rise and high-rise urban infill multifamily and student housing developments on time and on budget in some of the nation's most competitive markets. To learn more, visit https://www.parallel-co.com/.

About Kayne Anderson Real Estate

Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $18 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $38 billion alternative investment management firm with more than 41 years of successful experience across real estate, infrastructure, energy, and credit. For more information, visit www.kayneanderson.com/real-estate/. (As of May 2025)

About BMO BANK, N.A.

BMO Financial Group is the seventh-largest bank in North America by assets, with total assets of $1.4 trillion as of April 30, 2025. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

SOURCE: Parallel