Slate Asset Management’s ambitious venture, the proposed Steelport industrial park, has reached a significant milestone with the submission of an application for a draft plan of subdivision. Spanning across 805.8 acres along Hamilton’s waterfront, Steelport aims to rejuvenate the area while providing direct access to key transportation routes, including the Great Lakes, the St. Lawrence Seaway, Ontario’s highway system, and on-site rail, along with connectivity to international airports in Hamilton and Toronto.
The anticipated economic impact of Steelport is substantial, with projections estimating a contribution of $3.8 billion to the Greater Toronto and Hamilton Area’s economy and the creation of approximately 23,000 jobs. Steven Dejonckheere, Senior Vice President at Slate Asset Management, emphasized the project’s holistic vision, which not only focuses on economic growth but also emphasizes community connectivity and environmental sustainability.
The history of the Stelco lands, where Steelport is slated to be developed, dates back to 1910, when Stelco commenced operations on the site. Over the years, the land has witnessed transformations, with Stelco’s operations evolving and relocating, leaving a significant portion of the site vacant and underutilized. Slate Asset Management’s acquisition of the former Stelco lands in 2022 marked the beginning of a new chapter, aiming to revitalize the property into a modern, master-planned employment area.
Steelport’s master plan encompasses 529.7 acres across 22 parcels of land, with a projected development of 11 million to 12 million square feet of industrial space of various sizes and types. The plan incorporates public right-of-ways, private industrial blocks, and hybrid partnership blocks, integrating public amenities within the industrial landscape.
Central to Steelport’s design are its four legacy hybrid places: The Lagoon Scape, The Pipe Gallery, The Battery, and The Waterfront. These areas aim to blend industrial heritage with modern amenities, offering spaces for recreation, entrepreneurship, and community engagement while preserving the natural beauty of the waterfront.
The development of Steelport will unfold in phases over several decades, with infrastructure designed to support future growth and development opportunities. Public engagement is integral to the project’s success, with Slate Asset Management inviting feedback and ideas from the Hamilton community at every stage of the process.
Collaborating with a team of experts, including architects, landscape architects, engineers, and planners, Slate Asset Management is committed to realizing Steelport’s full potential as a catalyst for economic and cultural growth in the Hamilton region. As the project progresses, stakeholders anticipate Steelport’s transformation into a vibrant and sustainable hub, reflecting the aspirations and needs of the local community for generations to come.
