Cost of Golden State Warriors’ New San Francisco Arena to Exceed $1 Billion (Photos)

WarriorsThe Golden State Warriors are movin’ on up — but it’s going to cost them.

The team has plans to move to the San Francisco waterfront by the 2017 season, and the price of the project has risen to about $1 billion, according to the San Francisco Business Times.

Team president Rick Welts said the cost to rehabilitate Piers 30-32 has doubled to about $120 million.

“The piers were built in a series of stages,” Welts said. “They were not all built at the same time, so there’s a lot different components that make up the 13-acre site.”

The rising cost hasn’t slowed the team’s plans down, though, with Welts saying that it means the team will work even harder to secure the space.

“If anything it has caused us to redouble our focus and effort on Piers 30-32. It is without question the best site for this project,” Welts said.

The price for the Warriors’ project includes building the arena, shops and housing across the street. The arena will reportedly feature a giant glass pane so fans can look out over the bay and passersby can peer into the venue.

The arena reportedly will not use any public funds for its construction.

Click here to check out a detailed photo gallery of the arena>>

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