2.15+/- Acre Tract to Become New Student Housing Development Adjacent To Campus

7th & James Baptist Church has completed the sale of a 2.15± acre tract at 602 James Ave, adjacent to Baylor University that will be developed into a new purpose-built student housing community by Parallel and Deven Group under a recently formed strategic partnership between the two nationally recognized student housing developers.  

The seller, 7th & James Baptist Church, was represented by Gregg Glime and Caleb Loudamy ofCromwell Commercial Group.

The transaction represents another significant investment in the continued growth and evolution of the Baylor-area market, where demand for high-quality student housing remains strong.

The development, known as 602 James Ave, marks the first project under the newly created joint venture between Parallel and Deven Group. Located at the corner of James Avenue and 5th Street just steps from the Baylor campus, the seven-story project is planned to include 265 units and 631 beds, with delivery anticipated in summer 2028. The development will feature a mix of studio through five-bedroom accommodations designed to meet the evolving needs of Baylor students. The project will also include approximately 14,000 square feet of amenity space, highlighted by a resort-style pool deck and sky lounge. Developers strategically designed the project with a higher concentration of studios, one-bedroom, and two-bedroom units to address a currently under served segment of the Baylor student housing market.

“This transaction represents another major investment in and highlighting the continued growth and momentum surrounding Baylor University and the broader Waco market,” said Gregg Glime of Cromwell Commercial Group. “The site’s location and accessibility make it an exceptional opportunity for a thoughtfully designed development that will serve Baylor students and contribute to the area’s long-term growth and energy surrounding the university campus.”

Erin Conaway, Pastor of 7th & James Baptist Church, credited Cromwell Commercial Group's Gregg Glime and Caleb Loudamy for providing trusted guidance throughout the transaction. "We immediately knew the Cromwell Team was the group to walk with us through this critical season in the life of our church," Conaway said. Noting that they helped the church recognize the property's full potential while navigating every step of the process with patience, transparency, and dedication, Conaway added "We are profoundly grateful for Gregg and Caleb and their partnership in this part of our process of building to our exciting future."

The skyline surrounding Baylor University is poised for transformation as impending construction commences and this landmark student housing development takes shape. Watch for continues progress on the 602 James Ave project in the months ahead, and visit https://www.parallel-co.com/602-james-ave for continued development updates.

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