Governor Kathy Hochul announced on March 4 a project timeline and additional updates on the construction of new thoroughbred racing facilities at Belmont Park, the Nassau County home of the Belmont Stakes. The New York Racing Association, which will oversee construction, released a series of architectural renderings to bring the project’s vision to life. Expected to be completed before the end 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 the New York Racing Association (NYRA) to modernize Belmont Park, and the FY2024 Enacted Budget granted that approval providing NYRA with a $455 million loan to build a world-class sports and entertainment destination in Elmont.
“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 will replace the existing 1.25 million-square-foot structure with a roughly 275,000-square-foot building featuring modern amenities and hospitality offerings. As noted in the formal submission of materials from NYRA to the New York State Franchise Oversight Board (FOB), 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.
Due to construction of the new facility, this year’s Belmont Stakes Racing Festival will be held at Saratoga Race Course 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 of 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, including:
- 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
- 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. “Belmont Park has always been an iconic venue where people gather together, and its storied past is rich with trendsetting racing innovation, said Populous Principal Meg McWilliam, adding that the firm is working with NYRA to “help deliver their vision for the new Belmont Park, respecting the heritage of the venue while reinventing a world-class experience that is approachable, dynamic and unexpected.”
Because of the vehicular and pedestrian tunnels providing access to the 45-acre Belmont infield for the first time, the new Belmont Park will provide fans and the surrounding community with more open space than ever before. 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 State while reinforcing the property’s status as an internationally recognized capital of horse 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 2024 Enacted Budget, 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 Racetrack for development opportunities.
“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 President and CEO David O’Rourke said. “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.”
Assemblymember Michaelle C. Solages (D-Valley Stream) said, “The transformation of Belmont Park into a renewed economic driver is underway with backstretch improvements and world-class amenities – and it’s all being done with our union partners. These details and milestones underscore New York’s commitment to the community.”
Floral Park Mayor Kevin Fitzgerald thanked NYRA for keeping the community in the loop regarding updates to Belmont. “For the past almost 120 years Belmont Park has been an excellent neighbor to Floral Park and we look forward to having the premier horse racing facility in the United States in our backyard.”
Belmont Park Local Advisory Board Member Sandra Smith added, “The future of Belmont Park is deeply important to Elmont, so it’s exciting to see a plan that expands green space for the community while modernizing the overall facility.”
“Belmont Park stands at the very center of Elmont, and has been a focal point of our community for decades,” Elmont Chamber of Commerce President Julie Marchesella said. “That’s why families in Elmont have eagerly awaited a renewed Belmont Park, and we applaud Governor Hochul and our friends at NYRA making this project a reality.”
Long Island Association President & CEO Matt Cohen added, “The new Belmont Park will be an economic engine for Long Island that will create jobs and drive tourism to our region for decades to come as it teams up with the adjacent UBS Arena to showcase a state-of-the-art sports and entertainment complex fans can walk to from the new LIRR Station in Elmont. I commend Governor Hochul and NYRA for their commitment to Long Island and look forward to seeing their vision become a reality in the months and years ahead.”
Building and Construction Trades Council of Nassau & Suffolk Counties President Matthew Aracich noted that, while the new facility “is a fraction of the original size,” it is expected to generate $155 million in economic activity and $10 million in new state and local tax revenues. “The renovation of Belmont Park’s Grandstand will re-brand the Empire State as the crowned jewel of the horse racing world,” he said. “NYRA’s imagination gives us the opportunity to cheer on a winner in style—it is an essential launchpad for attracting visitors to Long Island who want to be entertained for an entire day.”