Request-for-Expressions-of-Interest-10-26-25.pdf

Request for Expressions of Interest – Pimlico Out Parcels

Introduction

The Maryland Economic Development Corporation (MEDCO) is issuing this Request for Expressions of Interest (REI), in collaboration with the Maryland Stadium Authority (MSA) and The Maryland Jockey Club (TMJC) to provide an opportunity for businesses, developers and other interested parties to propose potential development of six parcels of vacant land located adjacent to the northwest boundary of Pimlico Racetrack.

By utilizing an REI format, we hope to encourage organizations, big and small, to think broadly and creatively and send in a response by December 5, 2025. The requirements for responding to the REI are intentionally minimal to encourage a broad spectrum of ideas and reposes. These proposals will assist in the future development of a more detailed, formal Request for Proposals for these sites.

Request for Expressions of Interest

This Request for Expressions of Interest (“RFEI”) is for the development of one or more of six parcels of land located immediately adjacent to Pimlico Racetrack. The attached site plan depicts the boundaries of the racetrack and the five parcels with approximate acreage:

Parcel A 1.6 acres Parcel B 3.5 acres Parcel C 2.2 acres Parcel D 2.3 acres Parcel E 1.4 acres Parcel F 1.4 acres

Redevelopment of Pimlico Racetrack - Background

Through legislation passed by the Maryland General Assembly during the 2024 and 2025 sessions, the State has charged MSA and the MEDCO with the redevelopment of the historic Pimlico Racetrack and a training facility (collectively The Project.) MSA is primarily responsible for design and construction of the racetrack and facilities while MEDCO will oversee TMJC, the entity that will operate Pimlico and the training facility, and assist in facilitating economic development activities in the broader Park Heights community. The legislature has authorized funding to complete The Project.

The six parcels identified above, known as the Outparcels, are owned by the State.

MEDCO has been authorized to facilitate the development of the Outparcels, ancillary to

MSA and MEDCO’s responsibilities for design and construction of The Project. The funding authorized by the State can only be used for the development of The Project. The boundary of the Pimlico Racetrack project is delineated on the attached site plan.

The 151st Pimlico Stakes in 2026 will be run at Laurel Park while the Pimlico Racetrack is under construction. The Preakness is expected to return to Pimlico in 2027. In addition to the Preakness Stakes, Pimlico will host approximately 100-125 days of racing every year after the opening of the new facility.

Park Heights and Outparcel Development – Background Information and Resources

The six outparcels, shown on the attached site plan, are located within an Enterprise Zone with the additional designation as a Focus Area, affording economic development incentives for future development projects. Information about the Enterprise Zone/Focus Area incentives can be found at https://www.baltimoredevelopment.com/doing-business/enterprise-zone-and-focus-area. The location is also within an Opportunity Zone, a federal program to incentivize investment in economic development in designated areas. For more information, click on https://www.baltimoredevelopment.com/doing-business/opportunity-zones.

The redevelopment of Pimlico into a year-round racing venue that will forever be the home of the Preakness States will catalyze and leverage the work of the Park Heights Renaissance CDC, the Pimlico Community Advisory Board (PCAB) and the neighborhood initiatives planned and implemented by community organizations within one mile of the Pimlico Racetrack. The significant work undertaken by the leadership of these and other stakeholder organizations over many years is detailed in the attached Joint Area Development Plan submitted and approved as required by state legislation authorizing the redevelopment of Pimlico Racetrack.

In addition to the Joint Plan, important information about the current economic development and reinvestment priorities for the Park Heights communities within the one-mile catchment area can be found in the following sources, all of which continue to guide the significant work underway and planned for these communities:

• Pimlico Redevelopment Community Compact – Attached

• Park Heights Renaissance CDC - https://boldnewheights.org/.

• Park Heights Master Plan https://planning.baltimorecity.gov/sites/default/files/091807%20Park%20H eights%20Master%20Plan%20Sept%2008.pdf

The dedication, collaboration and shared goal of creating economically vibrant communities with resources to address socioeconomic challenges was recognized by Governor West Moore in 2024 when Park Heights Renaissance was included in the first https://www.baltimoredevelopment.com/doing-business/enterprise-zone-and-focus-area https://www.baltimoredevelopment.com/doing-business/enterprise-zone-and-focus-area https://www.baltimoredevelopment.com/doing-business/opportunity-zones https://www.baltimoredevelopment.com/doing-business/opportunity-zones https://boldnewheights.org/ https://planning.baltimorecity.gov/sites/default/files/091807%20Park%20Heights%20Master%20Plan%20Sept%2008.pdf https://planning.baltimorecity.gov/sites/default/files/091807%20Park%20Heights%20Master%20Plan%20Sept%2008.pdf cohort of community organizations to receive an ENOUGH grant, (Engaging Neighborhoods, Organizations, Unions, Governments, and Households), a community-based strategy to address concentrated child poverty. The $3M grant will enable PHR to implement bold strategies through a number of programs briefly described in the attached document, Park Heights’ ENOUGH Initiative.

PHR has also received designation for a Park Heights Main Street District, an initiative that will benefit from the redevelopment of the racetrack, the Outparcels and neighborhood initiatives throughout the catchment area.

The development of the Outparcels should provide additional amenities to not only benefit the operations at the Pimlico Racetrack and those attending races at Pimlico, but most significantly provide benefit and support to the neighborhoods in the one-mile catchment area.

Submission Requirements

Responses must include:

1. Description of proposed development:

a. Specific parcel or parcels for the proposed development

b. Type of development being proposed, e.g. commercial, housing, mixed use, open space

c. Specific use for each component of the proposed development, e.g.

commercial retail, rental housing, etc.

Additional consideration will be given to proposed development that includes parking to accommodate the proposed use, Pimlico Racetrack functions, visitors to the Racetrack, and patrons shopping and visiting the new Park Heights Main Streets District.

2. Organizational information for all members of the proposed development team:

a. Legal name of entity or entities and primary address

b. Primary contact for each member of the team including name, email address and phone number.

c. Resumes for all team members.

d. If applicable, certification as MBE, WBE and SBE

3. Respondent’s experience:

a. at least two examples for each team member of similar completed projects;

b. for each team member, a description of the financing structure for two or more projects of similar size and components completed by the team member

4. Explanation of potential broad economic benefit of proposed development and strategy to maximize participation by local, small businesses within the Park Heights boundaries.

Submission Procedures:

1. Responses must be received no later than 12:00 p.m. on December 5, 2025.

2. Responses must be submitted via email to pimlico@medco-corp.com

The Maryland Economic Development Corporation (MEDCO) was created by the Maryland General Assembly in 1984. MEDCO’s mission is four-fold: to help foster the growth and retention of current businesses; attract new business to the State; assist in the creation of new enterprise ventures; and generate employment opportunities throughout the State of Maryland. MEDCO achieves its mission by partnering with public/private entities to provide innovative revenue bond financing, real estate and infrastructure development solutions as well as workforce and education program development, and strategic advisory services. Operating under the core values of equity, integrity, community and excellence, MEDCO is committed to serving Maryland’s economic interests and realizing its great potential.

The Maryland Stadium Authority (MSA) was established by the General Assembly in 1986.

The original mission was to build, manage and maintain quality facilities to retain major league baseball, and return NFL football to Maryland. MSA is committed to enhancing the Maryland experience for those who live, work and visit here. In addition, MSA currently oversees projects such as 21st Century School Buildings Program and Project C.O.R.E./Baltimore Vacants Reinvestment Initiative, which orchestrates the demolition of blighted structures throughout Baltimore City. The sports commission for the state of Maryland, known as Maryland Sports, is a division of MSA and has been since its existence in 2008.

mailto:pimlico@medco-corp.com