Construction tops off on homes near Laurel Park track

The first phase of a new mixed-use development next to the Laurel Park race track is nearing completion.

Vertical construction is done on the first condo and townhome-style buildings at Paddock Pointe at the Maryland Jockey Club, a new 63-acre retail and residential community next to the track, developer 1/ST Properties announced this week. 1/ST Properties is the retail arm of a new consumer-facing brand for the Stronach Group, the Canada-based owner of Laurel Park as well as Pimlico Race Course in Baltimore.

The development itself has also undergone a name change. Paddock Pointe was initially called Laurel Park Station when it broke ground last May.

When it's complete, the community will have 1,000 residential units, 127,000 square feet of retail and 650,000 square feet of commercial and office space. There will also be nearly 25 acres of open space with a kayak launch on the Patuxent River. The development could be anchored by a new MARC station to be built in the coming years, though plans for the station are still up in the air, a spokesman for 1/ST said.

The first phase of Paddock Pointe's construction includes 220 housing units. Move-ins for the first set of homes are scheduled for the third quarter of 2020, and the development already has a list of 1,300 people interested in purchasing a condo, according to builder Ryan Homes. The project was designed by architect Design Collective.

The project is moving forward as the future of 1/ST's race tracks remains unclear. The Maryland General Assembly approved a deal earlier this year to keep the Preakness Stakes — the second leg in horse racing's Triple Crown — in Baltimore, while paving the way for a redevelopment of both Pimlico and Laurel Park. But given the economic blow dealt by the novel coronavirus, it's unclear whether the state will be able to afford the $348 million deal.

This year's Preakness Stakes, initially slated for May 16, will now run on Oct. 3 at Pimlico. Live racing resumed at the Laurel Park track June 1 after a hiatus due to the virus. 

https://www.bizjournals.com/baltimore/news/2020/06/11/paddock-pointe-home-construction-near-laurel-park.html