The Golden State Warriors have formally purchased a 12-acre site in Mission Bay from Salesforce.com where the team plans to build a new arena.
The purchase was announced Monday morning after the Warriors purchased an option on the property last year. Terms of the deal were not released.
The announcement comes a week after UC San Francisco officially endorsed the project, marking a key level of support for the effort. The university earlier this year opened three new hospitals across the street from the planned arena at Third and 16th streets, which has prompted concerns about traffic and noise in the area.
“The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco,” Rick Welts, president and COO of the Warriors, said in a statement. “We’re the only sports team in America doing this all with private funds, on private land, with no public subsidy.”
The more than 18,000-seat-arena is expected to open in time for the 2018-19 NBA season. A draft environmental impact review was released over the summer, detailing some $40 million in transit improvements slated for the area, and the final draft is expected this fall.
Also planned for the site are restaurants, cafes, offices, public plazas and other amenities, as well as a 5-acre public park along the waterfront.
“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 in the statement. “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.”
Transportation improvements for the area include an expanded light rail platform where the arena is planned, a “Local/Hospital Access Plan” that will keep certain streets clear of event traffic so UCSF and other businesses and residents will not be impacted, and increased bus and light rail service before and after arena events.
Those who remain opposed to the project, however, are unconvinced that such efforts will ease traffic congestion in the neighborhood. The Mission Bay Alliance group led by former UCSF officials claim the arena will create detrimental traffic and noise in the area.