William H. Cole IV

Baltimore Development Corp.: Rebuilding Pimlico could spur $700M in additional development

Baltimore Development Corp.: Rebuilding Pimlico could spur $700M in additional development

The president of the Baltimore Development Corp. told a meeting of Baltimore city and county lawmakers Friday that rebuilding Pimlico Race Course would likely require an investment of at least $125 million for infrastructure by Baltimore taxpayers — but could spur $700 million in additional development in the area.

The 148-year-old track in Park Heights is the home of the Preakness Stakes, the second leg of horse racing’s Triple Crown.

But the current state of the facility presents “significant challenges, which, if not addressed, may threaten its continued existence and the success of the Preakness Stakes,” according to a December

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