The $455 million renovation project underway at Belmont Park will include a modernized grandstand, updated suites and clubs and expanded green space, the New York Racing Association says.

The original 1.25 million-square-foot structure, which was built in 1968, is currently being torn down to make way for the modern amenities. The new park structure is set to open in 2026.

The renovations will allow the Breeder's Cup to take place on Long Island for the first time since 2005.

"We will be hosting the 2026 Breeder's Cup, which brings tremendous revenue to the area by way of hotels, guests and restaurants,” said NYRA board member Michael Dubb. “The general calculation is about $100 million in economic benefit."

Belmont hasn’t hosted the event in nearly 20 years because of outdated facilities, NYRA says.