Baltimore's Historic Pimlico Race Course will be demolished after the 150th Preakness Stakes in May as state leaders move forward with a restoration project. Renderings of the new facility were unveiled Wednesday.

A Maryland board has approved a $14.3 million contract to begin the demolition and rebuilding of Baltimore's storied but antiquated Pimlico Race Course.

Final preparations for the long-planned demolition of the Pimlico racetrack this summer will begin soon after next week’s Preakness Stakes, state officials said ahead of a Wednesday vote by the Maryland Board of Public Works to approve the demolition contract.