Many people successfully grow frangipanis on a balcony. Generally speaking, if a balcony gets some sunlight each day, the balcony will catch and store the heat better than an open area.
See also, Can I keep a frangipani in a pot?
If your frangipani gets too big for your balcony, asks us about exchanging it for a similar variety half the size (South East Queensland only). If we agree, we’ll put your new frangipani in your pot with fresh potting mix.