Overview
- Belmont Park reopened Friday with a ribbon‑cutting by Gov. Kathy Hochul, live entertainment and a nine‑race card highlighted by Japanese horse Forever Young winning the $1 million Grade 1 Jockey Club Gold Cup.
- New York State provided a $455 million loan and the New York Racing Association supplied roughly $100 million toward a project that sources put at about $550–$555 million in total cost.
- The rebuilt facility includes a five‑story glass grandstand, a larger paddock, about five times more green space and four racing surfaces including a one‑mile Tapeta synthetic oval for winter racing.
- Only the first two grandstand floors are open now so opening weekend was capped at 6,000 spectators with weekday limits dropping to 4,000 as work continues; NYRA expects full grandstand completion in early 2027 and roughly 10,000 on‑site capacity when finished with at least 50,000 for the Belmont Stakes.
- Officials project about $155 million in annual local economic output and new jobs from year‑round racing and events, while critics question the long‑term attendance outlook and the use of public funds for the redevelopment.