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A long-vacant Bank of America property in the heart of Cocoa Village is set to be transformed into a massive seven-story luxury apartment complex, marking one of the most significant redevelopment projects in the city’s downtown core. The $93 million project by Tampa-based Framework Group received approval from the Cocoa City Council and is now moving toward final design and permitting.
The development will rise at 430 Brevard Avenue, replacing a bank building that has sat empty for years. According to city documents and developer filings, the mixed-use complex will include:
• 220 to 241 residential units
• Ground-floor retail and commercial space
• A six-story parking garage
• Courtyard, pool, terrace, and luxury amenities
• Architectural design elements intended to match Cocoa Village’s historic character
Renderings included in the source material show a modern streetscape with walkable features and integrated retail footprints along Brevard Avenue.
The project is expected to house 350 to 400 residents once complete.
Framework Group Executive Vice President Nick Herring said the company is eager to move quickly.
“We’re stakeholders in Cocoa Village. We have every motivation to get started as soon as we can,” Herring said, noting that the project’s $93 million cost reflects its luxury-level construction and amenities. Framework Group plans luxury ap…
Herring said he anticipates design, engineering, and the remainder of the permitting work to continue through most of 2026, though an earlier construction start is possible if approvals are expedited.
Documents submitted to the city show the development’s construction phase is projected to create approximately 1,030 jobs, with another 306 jobs expected once the project is operational.
Cocoa Village’s apartment market continues to grow, with average area rents at $1,585, slightly below Florida’s statewide average of $1,678. Recent additions to the broader Brevard County market include Madison Grove in Rockledge, which introduced 292 units with rents ranging from $1,597 to $2,516.
Nearby, Taylor Morrison is also developing The Windward Preserve, a planned 385-home subdivision on 212 acres near a Brightline route, signaling continued residential demand in the area. Framework Group plans luxury ap…
City officials have long sought to activate vacant or underutilized downtown parcels. With its scale, walkability components, and substantial economic footprint, the Framework Group complex is poised to reshape the northern edge of Cocoa Village.
Construction timelines have not been finalized, but work on the site is expected to begin once all remaining permits are secured.
