The timeline and additional updates on the construction of the Belmont Park project have been revealed. The project is expected to be completed in the fall of 2026. The announcement reveals that constructing the new Belmont Park over multiple years will result in a $1 billion economic impact related to construction and create 3,700 jobs.

Belmont Park, a major horse racing facility in New York, opened on May 4th, 1905, with a capacity of 100,000. It is operated by the non-profit New York Racing Association. For the new Belmont Park project, the NYRA (The New York Racing Association), which will oversee construction, plans to demolish the original and rebuild it from scratch, transforming the racetrack into a brand-new, modern facility suitable for winter.

The NYRA has released a series of architectural renderings that bring the project’s vision to life. The existing 1.25 million-square-foot structure will be replaced by a 275,000-square-foot building featuring modern amenities, hospitality offerings, and more. The demolition is planned to begin in March and continue through early July. According to the released timeline, the new building will begin to take shape in early 2025.

The new grandstand is being designed by renowned architectural firm Populous in collaboration with NYRA. The design will increase the amount of unstructured green space available for visitors and provide the surrounding community with more open space than before. The new Belmont Park will have a 50,000-person capacity with a flexible layout of seats, suits, and standing spaces.

Governor Kathy Hochul announced the details of the project: “The redevelopment of Belmont Park is a critical investment in one of New York’s most historic sporting venues. The new facility will support year-round racing, thousands of new jobs for Long Islanders, and an enhanced experience for customers attending the iconic Belmont Stakes for generations to come.”

Also, the NYRA board of directors chair Marc Holliday 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.” and add “It is an honor to design and develop a venue that will appeal to racing enthusiasts and attract a new generation of fans.”