Redevelopment of the Pimlico and Laurel Park Racing Facilities

With the enactment of the Racing and Community Development Act of 2020 legislation in June 2020, the Maryland Stadium Authority (MSA) is authorized to finance up to $375 million for the planning, design, and construction of the Pimlico and Laurel Park Racing Facilities. Previously, MSA managed the Pimlico Race Course studies that examined the present conditions of Pimlico, then envisioned an ideal venue for the Preakness Stakes with year-round non-racing use of the facility for the benefit of the community.

Immediately upon the enactment of the legislation, MSA initiated the preliminary planning stages of procuring and engaging professionals to partner on this historic, highly complex, multi-jurisdictional, multi-year project. The project will primarily include construction and improvements of the racecourses, stables and clubhouses, at sites in both the City of Baltimore and Anne Arundel County. 

Throughout 2021, the MSA worked with the Maryland Jockey Club (MJC) and the horse industry to more fully program both the Laurel Park and Pimlico Racing facilities. It became apparent in the summer of 2021 that the stakeholders desired significant changes to the Laurel Park program. The program at Pimlico had minor changes, but remained true to the 2020 plan that resulted in the Racing Act of 2020.  

The complexity of the two intertwined projects, Laurel and Pimlico, also increased costs as the logistics of accommodating day to day equine training/housing for year round racing, proved to be more complex and expensive than originally anticipated.  

The increased program desires at Laurel, the cost of transition, and the current economy (including inflationary forecasts and the expectation of reduced revenues from MSA’s bond deals) have led to Laurel Park being substantially over budget. The legislature reacted to this information and included direction to the MSA in HB897 Economic Development - Sports Entertainment Facilities and Events, Prince George's County Blue Line Corridor Facilities, and Racing Facilities in the 2022 session.  HB897 requires MSA to evaluate Laurel Park from two perspectives. Firstly, report on the program, cost and schedule of an MJC owned and operated facility.  This is the work that was essentially completed in 2021. Secondly, report on the program, cost and schedule of a horse industry owned and operated facility. This work is ongoing.  

HB897 also introduced Maryland Economic Development Corporation (MEDCO) into the Laurel Park project. The Bill requires an appraisal and report on the feasibility and a cost/benefit analysis of a nonprofit/governmental purchase of the Laurel Park property.

The program at Pimlico remains within striking distance of the original established budget at a construction estimate of $220 million.  

Numerous agreements, as required by the 2020 legislation, must be in place before MSA can issue bonds and begin physical work at Pimlico. The most prominent agreement is the land transfer from MJC/Stronach to the City of Baltimore. The project parties are actively working on the agreements. 

A schedule for the facilities will be established after execution of the primary agreements.

A preliminary report of the findings from studies of both racing facilities was sent to the legislature in September 2022 and the final report is due in January 2023.  
 

Racing and Community Development Act of 2020:
http://mgaleg.maryland.gov/2020RS/chapters_noln/Ch_590_sb0987E.pdf
http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/sb0987?ys=2020RS&search=True

Pimlico Race Course Study, Phase I & 2:
https://www.mdstad.com/studies/pimlico-race-course-study-phase-1-2

Maryland Stadium Authority Management of the Redevelopment of Pimlico Race Course and Laurel Park Project on Track
Procuring and Engaging Professionals to Partner on this Historic and Highly Complex, Multi-Step, Multi-Jurisdictional, Multi-Year Project is Underway (more information)

Maryland Stadium Authority Awards Contract for Architectural / Engineering Services for the Redevelopment of Pimlico and Laurel Park Racing Facilities Project
Baltimore, Maryland based Ayers Saint Gross Selected (more information)