It's no secret that the Golden State Warriors are moving to San Francisco and opening a brand-new, state of the art arena there within the next five years.
The details, which are becoming more and more evident as the team gets closer to beginning construction, are that the arena will be built in the Mission Bay on twelve acres of private property – bordered by Terry Francois Boulevard, 16th Street, 3rd Street and South Street.
After being overcome by political hurdles when they sought to build on the water by Piers 30-32, Warriors owners Joe Lacob and Peter Guber bought the Mission Bay land from Salesforce and its CEO, Marc Benioff, last April.
Just talked to Joe Lacob, who says he is "very excited" about the new Mission Bay arena site.— Sam Sorkin (@samsportfan23) April 22, 2014
Warriors President and Chief Operating Officer Rick Welts told the San Francisco Chronicle in August that "while we love the fact that Mr. Benioff called Joe Lacob, I can tell you this was not part of his philanthropic efforts."
Previously, the exact price of the transaction was undisclosed. However, on Friday Lacob discussed the status of the arena (along with the reasoning behind firing Mark Jackson) with the San Jose Mercury News' Diamond Leung.
On Friday Lacob said projections are that the arena will cost about $800 million, and with office and retail space the price tag will be "well over" $1 billion – all privately financed. The arena will be used for basketball as well as concerts and other entertainment; the 12-acre space will also a include 5.5-acre waterfront park along Terry Francois Boulevard, lots of retail and restaurants, and two 16-story office buildings.
Warriors media spokesman P.J. Johnston told the Chronicle that the team will be a prime benefactor when the Central Subway project is completed, allowing for much easier transportation to the new arena from the East Bay than many originally thought when the Salesforce land was sold to the Warriors.
The target date for the opening of the arena is by the 2018-19 season, but Lacob and Co., true to form, have higher goals – to open in time for the 2017-2018 season.
"We're going to put a shovel in the ground, assuming the bureaucrats don't slow us down any more," Lacob told Leung. "It'll be built in 24 months. We've hired the contractors already, and we'll open hopefully in fall of '17 ; we told the world fall of ."
"It's a real possibility ... we could open in the fall of 2017," Lacob said.