Proposed Warriors arena will cost $1 billion to build
SAN FRANCISCO (KGO) -- We're getting a clear picture of how much a new waterfront arena in San Francisco could cost the Golden State Warriors, a deal which could mean millions of dollars for the city.
The proposed $17,000 seat arena could be built on Piers 30-32 along the Embarcadero near the Bay Bridge.
The Warriors could be playing basketball in San Francisco by the 2017 NBA season in this proposed state-of-the-art $1 billion arena. But, right now the site is just an aging parking lot where Pier 30 used to be.
"We're standing on this 13 acre site, this needs to be something better, it will, that's why Warriors are building the arena," Warriors spokesman P.J. Johnson said.
In a new report, San Francisco budget analysts say the project is 'feasible' with the Warriors paying all up-front costs, like fixing the old crumbling piers underneath, at the cost of $120 million.
San Francisco could get $54 million in one-time tax dollars after construction and collect $19 million in taxes every year.
It seems like a good deal for San Francisco, but is it a good deal for the Warriors? "It is ultimately a good deal for the Warriors," Johnson said.
Some neighbors say it's not a good deal for them. "The last thing we need is a giant cement tower there. I like the Warriors, let's keep them in Oakland," waterfront resident Robert Collette said.
Collette says the arena would ruin his amazing view on the Embarcadero and bring more traffic and noise, especially on days when Giants and Warriors games overlap.
"I'm concerned about parking and all the traffic. I tried to enjoy the World Series, but there were so many people in the neighborhood," waterfront resident Matt Ellsbernd said.
However, some neighbors like the plan as long as people leave their cars at home. "Yes more traffic, but they're adding trains. Hopefully people will figure out that they shouldn't drive," waterfront resident Alexis Munson said.
oakland, golden state warriors, nba
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