It’s inevitable that plans change when one is attempting to build a state of the art arena which is exactly what the Golden State Warriors are intending to do.
Currently residing in Oakland, the Warriors have plans to move across the bay to San Francisco where they plan to build a waterfront arena which they’re hopeful will be open for the 2017-2018 season.
If that is to happen, it’s going to be costly.
According to BizJournals.com, the cost to rehabilitate Piers 30-32 has climbed to nearly $120 million – almost double the original expected amount.
Per Eric Young:
The price tag for the Warriors’ proposed arena in San Francisco is going up.
Rick Welts, the team president, told KCBS radio that the cost to rehabilitate Piers 30-32 has doubled to about $120 million.
“The piers were built in a series of stages,” Welts told the San Francisco radio station. “They were not all built at the same time, so there’s a lot different components that make up the 13-acre site.”
The Warriors are expected to take a page from the San Francisco Giants and invest in real estate during construction of their arena (something the Giants did with AT&T Park) in hopes of recouping some of the money that will be spent in the building process.
Before the elevation in price, the arena project was expected to cost near $1 billion dollars.