Terry Salzman Unveils Plans of 245-unit Senior Living Facility in Weston, FL

South Florida developer Terry Salzman has received site plan approval to build a six-story, 245-unit senior living facility in Weston. Designed by Fort Lauderdale's Synalovski Romanik Saye LLC, the 325,808-square-foot building will include 113 units for independent living, 108 for assisted living, and 24 for memory care.

Personal Motivation and Community Need

Salzman, a Weston resident for 25 years, was inspired to develop this facility after struggling to find quality senior care for his late father. His father transitioned through various stages of senior living, and finding a nearby, high-quality facility was challenging. This personal experience drove Salzman to create a local solution.

Project Timeline and Development Details

The Weston City Commission approved the project site plan and rezoned the development site on Racquet Club Road last month. Salzman plans to start the 18-month construction phase by the first quarter of 2025, though the operator for the 55-and-older facility has not been selected yet. Salzman’s company purchased the 6.6-acre site for $3.75 million in February 2023. The site is located at 357 Racquet Club Road, near the I-75 and I-595 interchange.

Financing and Zoning Challenges

Despite the difficulties in obtaining construction loans due to high costs, Salzman is prepared to wait for the right financing deal. He mentioned that his company bought the property with cash and is ready to take six months to finalize the financial structure. The site, formerly a welcome center and office for Vacation Village, had two zoning designations. The Weston City Commission rezoned the entire site to “mid-rise multifamily” (MF3) from previous designations of “low rise multifamily” (MF2) and “commercial” (C1).

Developer’s Background and Expertise

Salzman, typically involved in mixed-use retail development, ventured into senior living to meet the market needs. His previous projects include collaborating with investor Robert Shapiro to assemble land for Kimco Realty Corporation’s Dania Pointe, a 102-acre mixed-use development in Dania Beach.