A complicated relationship [Details inside]?

Hello everyone,
First, I’d like to give some background information. In this “story”, there are four characters. The named used in this “story” are fictional. So, Diana and Annie are best friends, and George and James (me) used to be good friends. Everyone in this story is aged 18–19.
So, about a year ago back in High school, George and Diana started to date. Now, that we’re in College, Annie and I go to one college while our two friends attend to another College. As a result, we’re not as close friends as we used to be. Recently, I started to develop for Diana and don’t exactly know how to deal with those feelings. Being friend with her, I am happy to see her happy dating someone else but at the same time, I want it to be me who’s dating her. After talking about this with Annie, I am even more confused as she is on my side and tells me I should perhaps wait until she breaks up and go for it. (she prefers if I was dating her best-friend as unlike George, I am friend with both girls) Briefly speaking, I am in conflict with myself not knowing whether or not I should wait and tell my feelings to Diana or move on. On one side, I used to be good friend with George and (if they ever break up) Dating his ex is kind of a “bad thing to do”. Plus, as I am a super close friend with Diana, I am afraid that if we ever date, things don’t work well and I end up losing a friendship. On the other hand, I am madly in love.
Thank you for reading guys :)
~A lost and confused soul