Next Saturday, May 17, thousands of fans will flock to the Pimlico Race Course for the 150th Preakness Stakes.

It will be the last time the historic race is held there before the site undergoes a major transformation.

The Maryland Board of Public Works on Wednesday approved a demolition permit — an official first step with a plan to rebuild the facility from the ground up. Clark Construction will handle the $14.3 million demolition, which is scheduled to start in late June or early July.

Although Pimlico currently hosts 15 racing days each year, Gov. Wes Moore said the redesigned facility will serve as a year-round anchor in Park Heights.

“There cannot be a better time to announce the beginning of a transformation that will allow Pimlico to become a year round hub for economic activity within the Park Heights community, and the centralization of racing operations,” said Moore.

The new site is expected to support about 500 jobs.

Greg Thompson, Maryland Stadium Authority Chairman, said the project includes a 35% minority business participation goal and will prioritize local subcontractors.

“Clark Construction has a long history of working with union signatory contractors throughout their contractual relationships with MSA over the last several decades,” Thompson said. “We will continue to be inclusive and provide equitable opportunities for contracting, at Pimlico on the track and off.”

The board also approved the $4.5 million purchase of Shamrock Farm. The 328-acre property in Woodbine, will serve as a training facility for thoroughbred racing. Comptroller Brooke Lierman recused herself from that portion of the vote for ethical reasons.

“Carroll County is pleased to be selected for a central component of this investment, beating out eight other locations,” said Carroll County Board of Commissioners President Kennny Kiler.

The county has committed $1.5 million over two years to support the site.

During construction, the race will move to Laurel Park and return to northwest Baltimore in 2027.