Belmont redevelopment details include 2026 reopening target
New York governor Kathy Hochul announced Monday a project timeline and additional updates on the construction of new thoroughbred racing facilities at Belmont Park.
The New York Racing Association, which will oversee construction, released a series of architectural renderings of the project. Expected to be completed in the third quarter of 2026, the multi-year project to build a new Belmont Park will generate $1 billion in construction-related economic impact and create 3,700 construction-related jobs. Following the return of thoroughbred racing to Belmont in 2026, additional racing and non-racing activities at the new facility will generate $155 million in annual economic output and produce $10 million in new state and local tax revenue per year. In 2023, Governor Hochul’s executive budget included a proposal for NYRA to modernize Belmont Park. The enacted budget for fiscal year 2024 granted that approval, providing NYRA with a $455 million loan to build a world-class sports and entertainment destination in Elmont, New York.
“The redevelopment of Belmont Park is a critical investment in one of New York’s most historic sporting venues,” Hochul said. “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.”
NYRA is committed to working with organized labor alongside New York State certified minority- and women-owned and service disabled veteran-owned businesses to construct a building that properly reflects the evolution of thoroughbred racing and wagering since Belmont was last renovated in the 1960s. Accordingly, NYRA will replace the existing 1.25 million square-foot structure with a roughly 275,000 square-foot building featuring the modern amenities and hospitality offerings sports fans now expect. As noted in the formal submission of materials from NYRA to the New York State franchise oversight board, the demolition of the current Belmont Park grandstand and 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.
As previously announced, the 2024 Belmont Stakes racing festival will be held at Saratoga for the first time in its 156-year history. The venue change will allow for uninterrupted construction of the new Belmont Park. Although Belmont Stakes Day on June 8 sold out in record time, tickets remain available for June 6, 7 and 9.
NYRA has developed a project plan that will allow for the Belmont Stakes to return to Belmont Park in June 2026 prior to the full opening of the new building, which is scheduled for September 2026. Although a venue for the 2026 Breeders’ Cup World Championships has yet to be determined, the new Belmont Park will be complete and ready to host the 2026 Breeders’ Cup should the opportunity arise. The Breeders’ Cup has announced its commitment to add Belmont to the rotation of host venues following NYRA’s modernization of the facility.
Beyond the fan-facing improvements to Belmont, NYRA is committed to expanding its ongoing campaign to modernize the Belmont barn area and backstretch by building three new dormitories by 2026. NYRA will also make further investments to improve the quality of life in the backstretch community.
These investments include improvements to the on-site medical facility, installing a modern blue light security system, upgrading the recreation hall and track kitchen facilities, renovating the on-site gymnasium, implementing new flood mitigation strategies, ensuring access to reliable wi-fi, replacing fencing throughout the backstretch, improving multi-modal travel through constructing bicycle storage sheds and assessing the feasibility of subsidized assistant trainer efficiency apartments.
The new Belmont grandstand, which is being designed by the architectural firm Populous in conjunction with NYRA, will dramatically increase the amount of unstructured green space available to fans by reducing the overall footprint of the building. The new Belmont Park will also provide fans with access to the 45-acre infield for the first time via new vehicular and pedestrian tunnels. As the first ground-up racetrack construction to occur in the United States in nearly 40 years, the new Belmont Park will reflect the continued success of thoroughbred racing in New York while reinforcing the property’s status as an internationally recognized capital of horse racing.
NYRA president and CEO David O’Rourke said, “The transformation of Belmont Park will secure the future of thoroughbred racing in New York State, create thousands of jobs and drive tourism to Long Island and the region for decades to come. NYRA is committed to building a world-class destination that will set the global standard for a racing facility, and we thank Governor Hochul for the opportunity to completely re-imagine Belmont.”
Marc Holliday, chair of the NYRA board of directors, said, “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. It is an honor 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 recognizable as a New York landmark and symbol of the enduring appeal of top-quality thoroughbred racing.”
While the new Belmont Park will have the same 50,000-person capacity as the existing venue, the layout of seats, suites, and standing spaces has been adjusted to accommodate flexible seasonal attendance. The addition of a winterized building paired with new racing surfaces and a synthetic track will result in a facility suitable to host thoroughbred racing on a year-round basis. As required by the enacted budget for 2024, NYRA will consolidate all downstate racing and training activities at the new Belmont Park to unlock 110 acres of New York state-owned land at Aqueduct for development opportunities.
