Next to UBS Arena, as part of the extensive Belmont Park redevelopment, a retail village and a hotel are being constructed.
The Belmont Park Redevelopment Project
The UBS Arena is a pivotal part of a larger, transformative $1.5 billion redevelopment project at Belmont Park. This ambitious undertaking is designed to create a vibrant, year-round destination that extends beyond just the arena itself. The comprehensive plan aims to establish Belmont Park as a premier hub for sports, entertainment, and various lifestyle activities.
Key Components of the Development
The multi-faceted project includes several significant additions strategically designed to complement the arena and enhance the overall visitor experience:
- Retail Village: This dedicated retail area will provide diverse shopping and dining options, establishing the location as a more complete entertainment and leisure destination. Visitors can expect a mix of local and national brands, alongside various culinary experiences, catering to a wide range of preferences.
- Hotel: A new hotel is being developed to offer convenient and comfortable accommodation for guests attending events at UBS Arena, as well as for those exploring the broader Belmont Park area. This addition will support local tourism and provide essential amenities for event-goers and other travelers.
These new facilities are being integrated seamlessly with the arena, aiming to improve accessibility, convenience, and the overall appeal of the destination.
Economic Impact and Benefits
The entire Belmont Park redevelopment, encompassing UBS Arena, the future retail village, and the hotel, is projected to deliver substantial economic benefits to the region. The project is anticipated to generate approximately $25 billion in economic activity, signifying a major investment in the area's growth.
This significant development is also creating considerable employment opportunities and leading to major infrastructure improvements:
- Job Creation:
- During the construction phase, the project is generating approximately 10,000 construction jobs.
- Upon completion and full operation of the arena, retail village, and hotel, an estimated 3,000 permanent jobs will be created, providing lasting employment opportunities for the community.
- Infrastructure Improvements: Major enhancements to the surrounding infrastructure, including transportation networks and essential utilities, are an integral part of the project's scope, benefiting not only the venue but also the broader community.
This integrated development strategy aims to transform Belmont Park into a dynamic and attractive destination, drawing visitors and fostering robust economic growth for New York.
