New York Governor Kathy Hochul has announced a project timeline and additional updates on the construction of new thoroughbred racing facilities at Belmont Park, with the wide-ranging project set to be completed in the third quarter of 2026.
The New York Racing Association, which will oversee construction, has released a series of architectural renderings. The renderings have been designed by global architecture firm Populous.
It is hoped the project will generate $1bn (£788m/€921m) in construction-related economic impact and create 3,700 construction-related jobs. Once racing returns to the new-look Belmont Park in 2026, additional racing and non-racing activities would generate $155m in annual economic output and produce $10m in new state and local tax revenue per year.
In May last year, the NYRA secured a $455m loan from New York State to build new facilities at Belmont Park. The State’s 2024 budget was approved by the State Senate and Assembly and included legislation authorising the NYRA to use a loan to carry out a major revamp of the venue.
The NYRA said the redevelopment, which will go ahead with no cost to taxpayers, will be “one of the most significant racetrack construction projects in modern memory”. The centrepiece of the reimagined Belmont Park will be a new building that will completely replace the existing grandstand and clubhouse.
The NYRA has committed to working with organised labour alongside New York State Certified Minority- and Women Owned and Service Disabled Veteran-Owned Businesses to construct the new building.
The existing 1.25-million-square-foot structure will be replaced with a building measuring roughly 275,000 square feet that will feature modern amenities and hospitality offerings. The demolition of the current Belmont Park grandstand/clubhouse is expected to begin in March and continue through early July.
The new building will begin to take shape in early 2025 with the installation of structural concrete. The remaining elements of the building, including the exterior façade, roof and sweeping canopy, will be added throughout 2025.
“The redevelopment of Belmont Park is a critical investment in one of New York’s most historic sporting venues,” Hochul said yesterday (Monday). “The new facility will support year-round racing, thousands of new jobs for Long Islanders and provide an enhanced experience for customers attending the iconic Belmont Stakes for generations to come.”
The new Populous-designed grandstand will increase the amount of unstructured green space available to fans by reducing the overall footprint of the building. The new Belmont Park will have the same 50,000-person capacity as the current venue, but the layout of seats, suites and standing spaces has been adjusted to accommodate flexible seasonal attendance.
In December, Hochul announced that the 2024 Belmont Stakes will be held at Saratoga Race Course while Belmont Park is redeveloped. It will mark the first time Saratoga has staged the festival in the 156-year history of the event. Saratoga is likely to host the race again in 2025.
The NYRA has developed a project plan that will allow for the Belmont Stakes to return to Belmont Park in June 2026 ahead of the full opening of the new building, which is scheduled for September 2026.
A venue for the 2026 Breeders’ Cup World Championships has yet to be determined, but the new Belmont Park would be ready to host the event should the opportunity arise. The Breeders’ Cup has previously said it would be interested in adding Belmont Park to the rotation of host venues following its redevelopment.
“The new Belmont Park will be a thoroughly modern racing and entertainment facility that will take its place on the global stage among iconic venues like Ascot, Longchamp and The Curragh,” said Marc Holliday, chair of the NYRA board of directors.
“It is an honour to design and develop a venue that will appeal to racing enthusiasts and attract a new generation of fans. Thanks to the leadership of Governor Hochul, the new Belmont Park will be immediately recognisable as a New York landmark and symbol of the enduring appeal of top-quality thoroughbred racing.”
