Uncertain who would pay to rebuild Pimlico; Stadium Authority proposal puts cost at $424M, higher than estimated
After dismissing two less ambitious options, the
The plan for the 148-year-old home of the Preakness Stakes, Maryland's largest and splashiest sporting event, includes a four-level clubhouse and plaza area called the Palio - named after the Palio di Siena horse race in
The three-year proposal was endorsed by Mayor
In the city's vision for the track, the plaza would be built "to serve as a scenic saddling area during Preakness Week and to serve the community the rest of the year with public concerts, performing arts, festivals and open-air markets," said a mayor's office release. It said a clubhouse would stage social and civic events, after-school and summer programs, meetings, drone racing, eSports and other activities.
The study found
No one was prepared to commit to paying such a sizable tab.
With the high price tag,
The study doesn't recommend who should pay for Pimlico's demolition and rebuild, but suggests city and state officials and
"Our decision about a capital investment in Pimlico, or any of our other properties, will depend on a full review of the capital and operating needs of the racing industry to ensure a financially viable future for
In October, a lawsuit Canadian billionaire
City officials were quick to point out that at least
But Pugh and others were holding out hope that the Preakness would remain.
"It's time for the city, the state and the (
Cole said the city is in the midst of a plan to acquire and demolish vacant properties in adjacent neighborhoods and solicit developers.
"There is active development interest right now in
It's not clear how much appetite the state has to help with funding.
"I don't know where you're going to get all that money, and how it's going to be divided up," state
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