The Warriors are moving to San Francisco's Mission Bay after finalizing the purchase of a 12-acre site from Salesforce.com, the team announced yesterday.
The basketball team, which has spent the past 43 years in Oakland, plans to build a privately financed arena in time for the 2018-2019 season. The entire project will include offices, public plazas and restaurants for a total price tag of more than $1B.
Rick Welts, president and COO, says the Warriors are the only sports team in the US making this kind of arena investment with all private funds on private land without any public subsidies.
The vacant Mission Bay property between Third, 16th and South streets and Terry Francois Boulevard was priced at about $150M, Salesforce.com CEO Marc Benioff said last month.
The finished project is expected to include an 18,000-seat arena and event space; 580k SF of office and lab space; 100k SF of retail space; 3.2 acres of plazas, landscaping and other public space; and a public plaza and parking for the offices and visitors.
The Warriors purchased an option on the property last April and reached an agreement with UCSF last week regarding traffic concerns for the nearby hospital. The project is expected to create $40M for transit improvements and bring millions in revenue into the city.
The Warriors played in San Francisco from 1962-1971 after moving from Philadelphia. Since 1972, the team has played in Oakland.
[NBA/Warriors; Inside Bay Area; NYT]
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