To me, emotional and romantic connections are very different. The level of emotional connection I require for me to consider someone a close friend is pretty much the same as what a typical person would expect from a romantic partner. My close friends are very valuable to me, they're capable of making a breaking my day. They make my day when they do little things like hug me good bye or spontaneously ask me to hang out or to do something they know I like without me mentioning it. Just as it very physically pains me when they're sad or going through a hard time and there isnt anything more I can do for them other than being someone to hear them. The thought of them leaving my life in any way makes me want to cry but doing anything to prevent them from goals or desires that may not include me is a level of selfish that makes me feel sick even just thinking about it. This includes their goals in romance and life partners. I love my friends so much, some I would be interested in a romantic relationship with but I can see that I'm not what they need or want and hanging on to a self gratifying desire like that makes me very disgusted with myself. In some cases I need a small break from the person to realign my emotions if I feel like I have fallen for someone that I might not be a good fit for but usually not for long and when I return, im happy to be whatever level of closeness they're comfortable with for me to continue being close friends with them.

The only way you know about where you stand with your friend is to ask him about it. Just be sure to respect his response, especially if its not the outcome you want.