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Framework Group seeks incentives for 7‑story mixed‑use project at Bank of America site; council approves development agreement
Summary
Developer Framework Group presented plans for a 7–8‑story, roughly $90–95M mixed‑use project with 220–241 apartments and retail in Cocoa Village; council approved the development agreement after public support and questions about parking, stormwater and incentives.
Framework Group presented a concept and development agreement for a vertically integrated mixed‑use project at the former Bank of America site at Brevard Avenue and Church Street in Cocoa Village, describing a proposal of about 220–241 apartments, 2,800 square feet of ground‑floor retail, structured parking and public amenities.
Planning staff described policy and zoning changes adopted in recent years that allow increased density and building height in the CRA and waterfront overlay. The site comprises roughly 1.95 acres, and the project team said the intended maximum building height is eight stories with a high‑end design approach intended to be contextually compatible with the village.
Developer presentation: Nick Herring (Framework Group) emphasized economic impact and public benefits, including a public plaza, 25 public parking spaces within the garage and membership access to a portion of clubhouse amenities. The applicant stated the project would seek a tax‑increment financing (TIF) rebate over 10 years and a credit of water and sewer impact fees as part of a future incentive package; the applicant said the incentive request was not before council for approval that night.
Public comment and council questions focused on parking calculations, stormwater vault design, sequencing and mitigation for adjacent uses (including a nearby school enterprise), and construction timing. The developer said construction must commence within three years of the development agreement approval, and final site plan approvals must be submitted within 18 months.
Council action: Following a public comment period that included merchants and neighborhood representatives expressing support, council voted to approve the development agreement and concept plan. Staff will negotiate the specific incentive package and return to council and the CRA for any required approvals.
What to watch: Future council or CRA agenda items will include any TIF rebate or fee‑credit requests, final site plan approvals, and construction milestones. Staff noted that incentive negotiations and final engineering (stormwater vault, parking counts and circulation) remain to be completed.
