NYRA Hires Management Company For Aqueduct

The New York Racing Association announced it has entered into a three-year facility management agreement with Tishman Real Estate Management Co. for NYRA's Aqueduct Race Course in Ozone Park, Queens, N.Y.

According to NYRA, the decision to hire a management company to oversee daily maintenance of the facility was based on the need to contain escalating costs associated with maintaining and repair work to the nearly 50-year-old racetrack. Tishman and NYRA have worked together in the past on large-scale, capital improvements including the main entrance and administrative buildings at the Saratoga Race Course in Saratoga Springs, N.Y.

"Over the past several years, Tishman has demonstrated to NYRA that it has the expertise and management capability to tackle large-scale projects and see them through to conclusion, on-time and on-budget," said NYRA's president and COO Terry Meyocks.

"Tishman's mission at Aqueduct will be to reduce the costs associated with Aqueduct's yearly maintenance through improved managerial efficiencies, a schedule of preventative maintenance, and computerization of work orders, inventories, job tracking, and status reports," said Tishman's president Joseph J. Simone.

Tishman is to begin it's duties at Aqueduct beginning on Feb. 1.