For more than a century, Pimlico Race Course has been a fixture of Baltimore’s identity and a global stage for horse racing. Now, the historic venue is embarking on a $400 million state-funded transformation that will redefine its role not only as the home of the Preakness Stakes, but as a year-round destination for racing, entertainment, and community growth. In 2024, the Maryland General Assembly authorized the Maryland Stadium Authority to issue $400 million in bonds to redevelop the Pimlico Race Course in Baltimore. The legislature also authorized the Maryland Stadium Authority to construct a new horseracing training facility, which will be at Shamrock Farm in Carroll County. The new training ground will offer 328 pastoral acres to create a best-in-class training facility with more than 800 boarded horses, housing for backstretch workers, a new clubhouse, paddock, pavilion and training track with dimensions identical to those at the current Pimlico site.
While construction is underway, the Preakness Stakes will temporarily relocate to Laurel Park in 2026. This short-term change ensures the tradition continues uninterrupted, while setting the stage for a grand return to Baltimore. By 2027, the 152nd Preakness will take place at a completely reimagined Pimlico, offering fans and visitors an upgraded experience worthy of the race’s international prestige.
The new facility will support over 500 jobs, and go from hosting approximately 15 racing days per year to becoming the permanent home of Maryland Thoroughbred racing with more than 100 racing days annually. As the centerpiece of Maryland’s Thoroughbred racing industry—which sustains more than 28,000 jobs and has generated approximately $3 billion in economic impact—the new Pimlico Race Course will be a year-round hub of economic activity for Park Heights, surrounding communities, and Baltimore City.
This transformation isn’t just about bricks and mortar, it’s also about investing in people. Importantly, the project dedicates 10% of annual track profits to strengthening the Park Heights neighborhood, ensuring local residents share in the economic and cultural benefits of Pimlico’s renewal. At the Baltimore Development Corporation (BDC), we are committed to supporting community-centered growth across the city. Through the American Rescue Plan Act (ARPA), BDC has already deployed more than $500,000 in grants to 32 local businesses, helping small enterprises thrive alongside major redevelopment projects like Pimlico.
The Pimlico redevelopment is more than just a facelift for Maryland’s iconic racetrack, it’s a catalyst for lasting growth in Park Heights. Combined with other transformative projects already underway or completed, these investments are laying the foundation for a stronger, more connected community. Park Heights is positioned to rise as a vibrant hub of culture, commerce, and community pride. With BDC’s, Park Height Renaissance's, Baltimore City Main Streets and other partners ongoing efforts, the momentum is clear: Park Heights is not just watching history unfold, it’s shaping its future.
