The new arena is expected to be open for the 2018-19 NBA season.
“The Warriors are making an unprecedented, $1 billion-plus investment in San Francisco,” said Rick Welts, the team's president and COO. “We’re the only sports team in America doing this all with private funds, on private land, with no public subsidy.”
Jimmy Spencer of the Sporting News provided some animated renderings of the new site:
The new 18,000-seat arena will be the centerpiece of a Mission Bay entertainment complex that will also include "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," per the team's website.
The Oracle Arena in Oakland has been the team's venue since 1971, making it the oldest home court in the NBA.
It's certainly an exciting time for the team and its fans, as the Warriors are the defending NBA champions and have built a young nucleus of exciting, talented players led by league MVP Steph Curry, Klay Thompson, Draymond Green and Harrison Barnes.