Churchill Downs Incorporated (CDI) has announced over $900m (£713m/€862m) of planned upgrades to Churchill Downs Racetrack, with the work to focus on improving the fan experience across three key areas of the venue.
The multi-year series of capital projects will collectively mark the largest expansion and renovation undertaken in the 150-year history of CDI.
The first of the projects has been dubbed The Skye Reconstruction and Expansion Project (The Skye Project). This will focus on the section of Churchill Downs that starts just past the finish line and extends to the First Turn Club.
The Skye Project will replace 11,500 existing seats that currently consist of uncovered box seats and dated dining areas with 13,300 seats, providing a range of premium hospitality experiences that include improved track views and upgraded amenities. CDI plans on investing $455m to $465m in this project between 2025 and 2028.
The existing Skye Terrace structure will be replaced with a new five-story structure that will transform the Clubhouse turn. The first three floors of The Skye are expected to be operational for the 153rd Kentucky Derby in May 2027, with the remaining areas to be completed for the following year’s event.
For the 2026 Kentucky Derby, and throughout the project transition, ticketed guests in the existing Skye Terrace areas will be given the opportunity for alternative premium seating.
Meanwhile, the Conservatory Project will replace the temporary suites in the infield which line the homestretch of the racetrack. The project will replace 2,100 temporary seats with new permanent structures, providing over 7,000 premium experiences for guests including 36 suites.
Phase one of the Conservatory Project will feature the Pagoda Club and Terrace, which will capture views of the grandstand and offer “unprecedented” visibility to the Kentucky Derby Winner’s Circle; the first Conservatory building with nine upgraded suites and covered rooftop dining; and the Stargazer Lounge on the first turn of the infield.
The first phase of the Conservatory Project is expected to be operational for the 2026 Kentucky Derby, with phase two and phase three to be operational for the 2027 and 2028 editions, respectively. CDI plans on investing $320m to $330m in this project.
The third project is the Infield General Admission Project, which will introduce three new permanent buildings within the infield that will provide guests with enhanced amenities for the Kentucky Derby. The development will create ticket upgrade opportunities with additional entertainment and rooftop viewing options.
The first building will be open for the 2026 Kentucky Derby, followed by the second and third building for the 2027 and 2028 events, respectively. CDI will spend $60m to $70m on this project.
CDI is also planning to invest $45m to $55m in several infrastructure improvements at Churchill Downs, which will include backside improvements for horsemen and trainers, as well as a new tunnel to the infield that will facilitate seamless access to and from the front side. The tunnel will serve as an immersive underground journey for guests.
Pending approval of incentives that must be approved first by the City of Louisville and then by the appropriate state agencies, CDI anticipates spending $120m to $130m of the project capital in 2025. All three projects and the necessary infrastructure improvements are set to be ready by the 2028 Kentucky Derby.
Bill Carstanjen, chief executive of CDI, said: “These projects, as well as key infrastructure improvements, reflect the company’s commitment to providing world-class hospitality and premium seating options for guests for many decades to come. We have a proven track record of prudently investing capital in the Kentucky Derby to create once-in-a lifetime experiences for our guests while also creating significant long-term value for our shareholders.”
Last July, CDI unveiled the latest renovation scheme for Churchill Downs with a project that focused on updating ticketed seating options and adding to amenities available for all guests in the grandstand area.
