Belmont Park and the surrounding Elmont area have undergone major changes in recent years. UBS Arena opened in 2021, the Elmont-UBS Arena Long Island Rail Road station added new rail access, and the modernized Belmont Park racing facility is scheduled to open for live racing on September 18, 2026.
These projects add entertainment, transportation and employment activity to western Nassau County. For buyers, sellers and investors, they are worth understanding — but they should be viewed as one part of the local housing picture, not as proof that any particular property will rise in value.
What Has Already Changed at Belmont Park?
UBS Arena opened in November 2021 as the home of the New York Islanders and as a year-round venue for concerts and other events. The broader Belmont Park redevelopment was planned as a major sports, entertainment, retail and hospitality destination.
The Elmont-UBS Arena LIRR station also opened in 2021 and later expanded to two-way service. For nearby residents and visitors, the station improved rail access to the Belmont area and created another transportation option for event traffic.
The New Belmont Park Opens September 18, 2026
The New York Racing Association says the reimagined Belmont Park is scheduled to open for live racing on September 18, 2026. The project includes a new grandstand, rebuilt racing surfaces, added green space and a more modern racing and entertainment facility.
New York State has projected that construction of the new Belmont Park will generate about $1 billion in construction-related economic impact and 3,700 construction-related jobs. After racing returns, the State projects approximately $155 million in annual economic output from racing and non-racing activity. These figures are economic projections, not guarantees of future housing appreciation.
Why Transit Matters for Nearby Home Buyers
Transportation access is one of the clearest practical benefits for nearby communities. The Elmont-UBS Arena station gives the Belmont area direct LIRR service and can make the location more convenient for some commuters, arena employees and visitors.
For a home buyer, however, transit convenience should be evaluated alongside commute time, property taxes, school district boundaries, home condition, neighborhood character and the specific street. A home near a transportation improvement is not automatically the right home for every buyer.
What Buyers Should Consider
Buyers interested in Elmont and nearby western Nassau County communities should look at the development from both sides. Proximity to the arena, transit and other amenities may be attractive, while event-day traffic, parking patterns and noise may matter more on certain streets.
A useful step is to visit the neighborhood at different times — including an arena event day when possible — and compare several nearby blocks before making an offer. Property taxes and school-district boundaries should also be reviewed carefully because they can materially affect monthly ownership costs.
What Sellers Should Consider
For sellers in Elmont and nearby communities, the Belmont redevelopment can be part of a property's location story. Access to the Elmont-UBS Arena station, nearby entertainment and regional investment may be relevant selling points for some buyers.
The strongest marketing approach is still property-specific. Pricing, condition, lot, taxes, layout, school district and recent comparable sales usually matter more than a broad redevelopment story. Sellers should present nearby amenities accurately while also being straightforward about event-day traffic or other trade-offs that buyers may notice.
What Investors Should Consider
New jobs, visitors and transportation improvements can increase interest in an area, but an investment property should still work based on its own numbers. Purchase price, property taxes, insurance, financing, maintenance, vacancy assumptions and realistic long-term rent are more important than relying on appreciation alone.
Investors should also verify zoning, permitted use and any local rental restrictions before purchasing. A property near a major venue should not be purchased on the assumption that short-term or event-based rentals will automatically be permitted or profitable.
Does Belmont Park Guarantee Higher Home Values?
No. It is reasonable to view major transportation, entertainment and employment projects as factors that may influence buyer interest, but it is difficult to isolate Belmont Park's specific effect on home prices from the broader Nassau County market.
Interest rates, housing supply, taxes, property condition, school districts, local demand and the overall economy can all influence sale prices. A recent comparative market analysis is a better way to understand the value of a specific home.
The Trade-Offs Are Important Too
Large venues and redevelopment projects can create both benefits and inconveniences. Event-night traffic, parking pressure, noise and construction activity are legitimate considerations for nearby residents.
For that reason, buyers and investors should evaluate the immediate block and traffic pattern rather than relying only on a map showing proximity to Belmont Park or UBS Arena.
Frequently Asked Questions
When does the new Belmont Park open?
NYRA currently lists September 18, 2026 as Opening Day for live racing at the new Belmont Park.
Is UBS Arena part of the Belmont redevelopment?
Yes. UBS Arena opened in 2021 and is a major component of the broader Belmont Park redevelopment area.
Does Elmont have a new LIRR station because of the redevelopment?
The Elmont-UBS Arena station opened in 2021 and later expanded to two-way service, improving rail access to the arena and surrounding area.
Will Belmont Park raise home prices in Elmont?
No specific increase can be guaranteed or attributed solely to Belmont Park. The project may contribute to buyer interest, but home values also depend on market supply, interest rates, taxes, condition, school district, location and many other factors.
Is property near UBS Arena a good investment?
It can be worth analyzing, but the investment should work based on realistic purchase, tax, financing, maintenance and rental assumptions. Investors should also verify zoning and rental rules before buying.
Thinking About Buying, Selling or Investing Near Belmont Park?
The Belmont area is changing, but good real estate decisions still come down to the individual property and your goals. If you are considering a move in Elmont or another Nassau County community, a local market analysis can help you compare recent sales, taxes, property condition and neighborhood factors before you decide.
Contact Raja Murthy to discuss your Nassau County real estate plans and request a personalized market analysis.
About Raja Murthy
Raja Murthy is a licensed real estate salesperson with NB Elite Realty serving Nassau County and Long Island, where he has lived in Farmingdale for over three decades. Through Murthy Real Estate, he helps buyers, sellers and investors make informed real estate decisions with local market knowledge and personalized guidance.
NB Elite Realty | (516) 908-8676
Equal Housing Opportunity.
Disclaimer:
This article is for general informational purposes only and is not legal, tax, financial, investment or appraisal advice. Development schedules, economic projections, market conditions and local rules can change. Buyers, sellers and investors should verify current information and consult appropriate licensed professionals regarding their specific circumstances.
