I'm in a very similar situation, only I don't really want to be her friend, although she did just get into a sorority that has a lot of girls, I'd rather it just not be awkward. Personally, the first time I went into a coffee shop and the only seat open was next to her, and i was like since this is going to be awkward if we sit here quietly for 2 hours, i"m going to say hi now, and stop it. She seemed a little bit looser after that. Just now i saw her in the gym so i said good morning. Basically I'm taking the approach that if I'm not awkward then hopefully she won't be.
But this is the first time I've been in this position, I've been on the other side before, and the girl I'm pretty sure went out of her way to say hi when she saw me just so I'd feel more awkward, eventually though I realized there was no reason to be awkard