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Warriors Formally Purchase Mission Bay Site
Team Acquires Private Property, Home of Future Arena, from Salesforce
The Warriors have formally acquired the 12-acre site of its future sports and entertainment complex in Mission Bay from Salesforce.
The NBA Champion Golden State Warriors announced today the team has formally acquired the 12-acre site of its future sports and entertainment complex in Mission Bay from Salesforce.
Terms of the deal were not announced.
The Warriors purchased an option on the private property in 2014, and have spent the past year and a half participating in a public planning process. Environmental review is expected to be completed this fall; the team plans to open the new arena in time for the 2018-19 NBA season.
“The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco,” said Rick Welts, President and COO of the Warriors. “We’re the only sports team in America doing this all with private funds, on private land, with no public subsidy.”
The arena is being built on a major metro rail line with easy links to BART and other transit options. The project will generate $40 million for transit improvements, and add millions to city coffers annually. Last week, UCSF, one of the major stakeholders in the area, announced its full support for the Warriors’ project. Also, on Thursday, the Mission Bay Citizens Advisory Committee, which was tasked with vetting the Warriors’ plans, voted unanimously to endorse the project.
The land in Mission Bay, a vacant lot on a former redevelopment area, has been slated for development for nearly 20 years.
The Warriors arena will provide San Francisco with an indoor venue it has always lacked, and will play host to not only NBA basketball, but also major concerts, family shows, conventions and a variety of other attractions.
The 18,000-plus seat arena will anchor 12 acres of restaurants, cafes, offices, public plazas and other amenities the neighborhood currently lacks, and will trigger the development of a 5-acre public park on the waterfront.
The Warriors’ plan is unique in that it is the only completely privately financed arena or stadium in the U.S. over the past two decades.
“We’ve been the Bay Area’s team for more than 50 years, and this plan keeps us in the Bay Area for the next 50 and beyond,” Welts said. “If there were any lingering doubts about our commitment to Mission Bay, purchasing this land should put them to rest. We love this neighborhood – nobody else is getting this land.”
The Warriors first arrived in San Francisco in 1962 and played their first nine seasons in the City by the Bay. The Warriors’ new ownership, led by Joe Lacob and Peter Guber, purchased the team in 2010 and within five years led it to its first NBA championship in 40 years.
Updated renderings and a video of the sports and entertainment complex are at http://www.warriors.com/sf.