HAMILTON, ONT. — Slate Asset Management recently announced it has completed the resubmission of its application for a draft plan of subdivision on the Steelport site to the City of Hamilton, addressing feedback on its initial application that was submitted in February last year.
At roughly 800 acres, Steelport intends to reshape an underutilized port into one of the largest intermodal industrial hubs in the country, states a release. The project is estimated to generate $3.8 billion in economic value and create 23,000 jobs across the Greater Toronto and Hamilton Area.
Slate’s original application outlined the proposed layout of the property and details of the project’s master plan, inclusive of industrial blocks, as well as planned public spaces and community amenities.
The resubmission retains all the original site proposals, including diverse landscapes providing increased access to nature and the waterfront, a Pipe Gallery “main street” that will repurpose some of the site’s historic industrial infrastructure, and the Battery, which is envisioned as a hub for the city’s creative production industry, the release adds.
Refinements to Slate’s original submission included changes to road right-of-ways and development blocks to further optimize site layout and traffic patterns. Preliminary grading and servicing work on the first road extension will follow the resubmission and lay the groundwork for the first phase of construction.
Approximately 100 acres of land will be “unlocked” during this phase, the company reports, within the southeast portion of the site to accommodate existing demand for employment space in Hamilton.
Construction on phase one of the development is expected to begin in the second half of 2025. For more information on Steelport, visit thesteelport.com.
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