A December 2018 report suggested that the existing buildings should be demolished and rebuilt. In a meeting held in June 2018 by the Maryland Stadium Authority, locals "overwhelmingly supported upgrading the track property."

In October 2019, The Stronach Group reached an agreement in principle with the city of Baltimore and groups representing Maryland horsemen that would permanently keep the Preakness at Pimlico. As part of the agreement, The Stronach Group would donate both Pimlico and