Baltimore Mayor, Stronach Group Prefer To Replace Pimlico
Baltimore Mayor Catherine Pugh and the Stronach Group today said that they "prefer to build a new racetrack that would play host to the Preakness rather than renovate Pimlico Race Course." A study released by the Maryland Stadium Authority in February estimated it would cost $320M to "bring Pimlico up to modern standards." Stronach Group COO Tim Ritvo said, "Renovating a building that was built in 1870 just gives you too many logistical nightmares." Pugh said $300M "could build a new one." Pugh added that she "would prefer the Stronach Group build on or near the site of the current race course to spur development in the northern part of the city" (BIZJOURNALS.com, 4/26).