Sorry for the delayed response, but I can speak to this one.
I've lived at The Quadrangle for two years, and I know a bunch of people who live over at Browning Square, the other graduate housing facility. Both complexes are old, but they provide a cheaper, quieter, and safer living arrangement than many of the surrounding apartment complexes filled with undergraduates. (You can get a sizable two-bedroom apartment at the Quad for the price of a small one-bedroom anywhere else.) Both complexes are really close to campus, and are supported by paid graduate student community coordinators who advocate for residents before both Brothers Management (which administers the properties) and the Baylor University Graduate School. They help organize regular community events, etc. It's fairly common, I think, to know and be friends with your neighbors.
I highly recommend graduate housing at Baylor, and Baylor in general. Let me know if you have any other questions.