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The Warriors officially bought the private 12-acre site of its future home in Mission Bay, the team announced in a press release today.
Last April, the franchise had purchased an option on the private land from Salesforce. Golden State has spent the past 18 months developing plans for the complex, with the Environmental Impact Review expected to be completed sometime this fall.
The Warriors plan to open their new arena at the beginning of the 2018-2019 NBA season.
"The Warriors are making an unprecedented, $1 billion investment in San Francisco," Warriors President and Chief Operating Officer, Rick Welts said.
During the past week, one of the city's major players, UCSF officially came on board, fully endorsing the arena; also, on Thursday, the Mission Bay Citizens Advisory Committee, a main examiner of the arena, voted unanimously to endorse the project.
The arena in Mission Bay will be the only completely privately financed stadium built in the United States since the early 1990s.
Welts added, "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."
Terms of the deal were undisclosed.
For more on this story, check out our storystream about the Warriors' San Francisco arena project.