From the official website of the National Basketball Association, NBA.com, comes the news that reigning champion Golden State Warriors has announced its formal acquisition of the 12-acre property in Mission Bay from Salesforce. The said site is to become its future sports and entertainment complex.
In a report by ABC7 News, it is said that the Warriors bought the private property in 2014, but the public announcement has made it official for them to proceed with the building process. They have participated in a public planning process for the past one and a half years, while the environmental review is expected to be finished by this Fall. The Warriors hope to have this new arena open for the 2018-2019 NBA season.
The arena will be built along a major rail line with links to BART and other transit options. It is projected that the project will help generate $40 million for transit improvement and will add millions as well to the city funds. The venue will hold more than 18,000 seats, plus 12 acres of commercial places such as cafes, restaurants, offices, public plazas and other amenities that are not available in the neighborhood. A 5-acre public park will also be constructed on the waterfront. The Warriors, through this proposed arena, will provide an indoor venue, which San Francisco has lacked in all these years. Not only NBA games will be hosted in it but also family shows, major concerts, conventions and other different attractions.
The particular land to be used for the arena in Mission Bay is a vacant lot on a former redevelopment area which has been set for development for almost 20 years. The plan of the Warriors is seen as completely unique since it is the only arena or stadium that is privately funded in the U.S. for the past twenty years.
Rick Welts, President and COO of the Warriors said that, "The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco. We're the only sports team in America doing this all with private funds, on private land, with no public subsidy."