The PennZone

COLLEGE STATION, Texas - PennZone -- Parallel, an Austin-based real estate development firm, has broken ground on a 750-bed property at 401 First Street that will serve students attending Texas A&M University and marking the firm's second recent development in College Station.

The project at 401 First Street will offer a mix of unit types with an emphasis on studio, one- and two-bedroom units. The property will provide a modern, well-amenitized property focused on community and academics and is expected to open in Fall 2024. Amenities will include a full-service smart market, influencer room, gaming lounge, dog park, walkup townhomes, pool and spa, outdoor kitchen, outdoor study area, outdoor gaming, yoga room, fitness room, community spaces with study areas and a sky lounge overlooking Texas A&M and Northgate.

More on The PennZone

• Preston Dermatology & Skin Surgery Center Wins Gold and Bronze in Prestigious Annual DIAMOND Awards
• David Boland, Inc. Awarded $54.3M Construction Contract by U.S. Army Corps of Engineers, Savannah District
• Pawprint Oxygen Turns Pet Safety Viral With "Pets Live Here" Window Decals — Helping First Responders Save Lives
• "Phinge Unveil™" Coming to Las Vegas to Showcase Netverse Patented Verified App-less Platform, AI & Modular Hardware Including Developer Conferences
• Elizabeth McLaughlin, Founder and CEO of Red Wagon Group, named 2026 Presidential Leadership Scholar

"Parallel is excited to break ground on its second project in Northgate near the A&M campus," said Kristen Penrod, principal at Parallel. "This project will provide a mix of units focused on living and learning near a campus that is projecting continued enrollment growth. Parallel looks forward to being able to provide A&M students with a highly amenitized, purposefully built product in the Northgate area."

The company spent a lot of time researching the College Station market to create a community catering to the next generation of students. The result is a community focused on academic success with multiple unit options for students, ranging from studios and one-bedroom units all the way up to a walkup six-bedroom, two-story townhome unit.

Partners on the project include BOKA Partners, Rogers O Brien Construction, Alison Royal Interiors, RLG Engineers, Mitchell and Morgan Civil Engineering, V3 Engineers, Infinisys and SMR Landscape.

For additional information please visit https://www.parallel-co.com/developments.

# # #

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/.