The surplus former Stelco lands now being developed by Slate Asset Management now have a new name. Slate Asset Management has unveiled a new name, identity, and preliminary vision for the industrial lands and buildings the Firm acquired from Stelco Inc. in June 2022. The 800-acre site on Hamilton Harbour will be called Steelport. Slate plans to reshape the property into one of the largest, state-of-the-art intermodal industrial hubs in the country, which the company says, will give enhanced access and opportunity back to people and the city, and connecting the region to the world.
Steelport offers direct access to the Great Lakes and the St. Lawrence Seaway, the U.S. land border, Ontario’s highway system, on-site rail, as well as nearby international airports in Hamilton and Toronto. The company says the new use of the property will include logistics centers and production hubs to traditional and more innovative manufacturing. Steelport is projected to create up to 23,000 new jobs across the Greater Toronto and Hamilton Area and inject up to $3.8 billion into Ontario’s economy over the next decade, according to an economic study conducted by EY.
Slate envisions a modern, intermodal, master-planned employment neighbourhood including municipal roads, public spaces, and flexible development parcels that could accommodate a wide range of employment and support uses. The site’s current zoning allows Slate to develop up to 12 million square feet, creating an unrivaled industrial development pipeline.
“Steelport reflects our commitment to raising the bar for industrial redevelopment,” said Blair Welch, Founding Partner at Slate. “From transforming the site into a modern and accessible space, to creating thousands of jobs and infusing billions into Canada’s economy, we believe the reach and impact of this project will be monumental.”
Slate plans to use sustainable practices in the development including recycling the steel from the buildings that will be demolished, renewable and district energy solutions, as well as other larger scale sustainability initiatives.. Slate will also invest into the environmental protection and remediation of the site.
The master plan includes an expansive trail network that ties together a storm water lagoon park, waterfront promenade, and a potential battery park amenity. Cultural elements and retail amenities are planned around a two-kilometre loop through the heart of the site that will allow Hamiltonians to experience a portion of the City that has been cut off from public use for over a century.
Slate envisages a road and infrastructure network that will integrate new public transportation lines into the site – from bus routes to bike share stations. The road and trail networks are designed to integrate seamlessly into the City’s Bayfront Area transportation and trail vision and will accommodate new servicing built to municipal standards and sized to support the demands for the proposed development and future potential growth.
In May 2023, Slate debuted its plans for Corktown – a residential condominium development in Hamilton’s core. Slate intends to launch sales for Corktown this month.
For more information thesteelport.com.
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