LOUISVILLE, Ky. (WDRB) -- Dan Baker stood with his family outside of Churchill Downs on Monday as they visited the center of the horse racing world.

"I'm sure it gets crazy when it's Derby time," said Dan Baker, imagining the excitement of the first Saturday in May.

From the outside, the changing landscape of Churchill Downs illustrates the other changes taking shape to debut for the 150th Kentucky Derby. Construction appears to be wrapping up. A state-of-the-art paddock is taking shape and signs commemorating the 150th running of the Kentucky Derby can be seen at every corner.

"Do you like this place?" Baker asked his young kids posing for a photo in front of the iconic Barbaro statue. "Yeah!" they screamed.

It would be difficult to not appreciate the $200 million project at the forefront of Churchill Downs. Said to be the finest paddock in the world, a person attending Derby 150 will now walk into a horseshoe-shaped paddock that surrounds the stalls where Kentucky Derby connections will prepare for the race. Observation decks will allow people to look down where the horses will be paraded on their way to the track. 

"The paddock is going to be the biggest adjustment this year," noted Connie Wood, another out-of-towner stopping in Louisville for Derby memorabilia. "It's going to be great. It's Derby. It's Churchill. It's horses."

Though many visitors can see the changes happening in front of their eyes, there's more happening behind the gates in order to capture 150 years of history.

Inside Churchill Downs' Matt Winn Steakhouse on Monday, Woodford Reserve unveiled its rarest whiskey to date, barreled three times in three unique casks. It's just a small part of how the 150th running of the Kentucky Derby will be celebrated and commemorated. 

"We wanted to have something special connected physically, in terms of liquid, to the track, to the 150 Derby," said Woodford's Master Distiller Emeritus, Chris Morris.

The bottle comes in a special leather case, inside a unique decanter. Only 150 bottles exist in the world. A bottle can be purchased for $15,000. The winning owner of the 150th Kentucky Derby will receive a rare bottle of Woodford Reserve. The Backside Learning Center will also receive a bottle.

And all of the staves were seasoned in the Kentucky Derby Winners Circle.

"This grand event has been around for 150 years, and you want to showcase the history," Churchill Downs spokesman Darren Rogers said.

Aside from the rare whiskey and multimillion-dollar paddock, Churchill Downs is racing to the finish line on several more projects. The Jockey Club underwent a $14 million upgrade. Signs and displays are going up to help tell Derby's 150 years of history. Temporary structures, fencing, dumpsters, port-a-potties, etc. all must be in place for the more than 360,000 expected at the downs May 4.

The work to do such began Monday.

"There's a number of different little upgrades that you'll notice at the downs," Rogers said with the now unobscured Twin Spires appearing clearly in the background.

Baker's family took in the sights of Churchill Downs 40 days away from the Kentucky Derby, where the magnitude of this race is on center stage.

"Bigger than we thought it'd be," Baker said as the Chicago family wrapped up their spring break trip. "It's awesome."

As the clock ticks down to a momentous Kentucky Derby, Churchill Downs is hoping that history will be showcased with buildings, bottles and beyond. 

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