{"id":25791,"date":"2022-06-03T13:08:06","date_gmt":"2022-06-03T13:08:06","guid":{"rendered":"https:\/\/cekan.ca\/regional\/stelco-sells-800-acres-to-build-world-class-industrial-park-in-hamilton\/"},"modified":"2022-11-28T20:44:54","modified_gmt":"2022-11-28T20:44:54","slug":"stelco-sells-800-acres-to-build-world-class-industrial-park-in-hamilton","status":"publish","type":"post","link":"https:\/\/cekan.ca\/hamilton\/stelco-sells-800-acres-to-build-world-class-industrial-park-in-hamilton\/","title":{"rendered":"Stelco sells 800 acres to build world-class industrial park in Hamilton"},"content":{"rendered":"<p>Slate Asset Management closed a deal to purchase a large portion of Stelco&#8217;s prime waterfront land for $518 million earlier this week with plans to turn the area into a state-of-the-art industrial park and shipping container yard.<\/p>\n<p>The announcement was made by Slate in a media release on Wednesday, unveiling their plans to transform about 800 acres of industrial land into a brand new commercial district. According to a study by <a href=\"https:\/\/www.ey.com\/en_ca\" target=\"_blank\" rel=\"noopener\">Ernst &amp; Young<\/a>, the new development could create up to 23,000 new jobs and $3.8 billion for Ontario&#8217;s economy.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, Slate acquired 800 acres of industrial land in Hamilton, Ontario from Stelco Inc., with plans to redevelop the site into a world-class industrial park that will create jobs, accelerate economic growth, and ensure environmental sustainability. More: <a href=\"https:\/\/t.co\/VRZLLl4Jqe\" target=\"_blank\">https:\/\/t.co\/VRZLLl4Jqe<\/a> <a href=\"https:\/\/t.co\/ikmdtHUCK2\" target=\"_blank\">pic.twitter.com\/ikmdtHUCK2<\/a><\/p>\n<p>&mdash; Slate Asset Management (@SlateAssetMgmt) <a href=\"https:\/\/twitter.com\/SlateAssetMgmt\/status\/1531988884611022856?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This historic sale includes all of Stelco&#8217;s underused land, which is located at 386 Wilcox Street by Hamilton Harbour. It includes a long-term sale-leaseback of 75 acres of land so Stelco can continue its cokemaking and value-added steel finishing operations at the Hamilton site.<\/p>\n<p>The remaining land will be developed into very desirable industrial space. Its proximity to Lake Ontario, a busy rail line, international airports, and the U.S. land border make it a truly unique industrial development opportunity.<\/p>\n<p>While it is not yet certain what the plans for the site will look like, the industrial park is fit for a variety of use cases as it will be designed for businesses that use intermodal containers. Early estimates show that Slate could build up to 12 million square feet &#8211; or about 275 acres &#8211; of industrial buildings on the property.<\/p>\n<p>The deal also involves investing in remediation and environmental protection of the site.<\/p>\n<p>This news coupled with the current redevelopment of Pier 8 \u2014 <a href=\"https:\/\/urbanicity.com\/hamilton\/real-estate\/2018\/06\/pier-8-development-winner-has-been-selected\/\" target=\"_blank\" rel=\"noopener\">which itself is currently being redeveloped<\/a> into 1,292 condo units including 65 affordable housing units spread across 20 buildings \u2014 will radically transform the appearance of one of Hamilton&#8217;s most prominent waterfront areas.<\/p>\n<p>You can find more information about the deal on <a href=\"https:\/\/www.slateam.com\/news\/slate-asset-management-announces-acquisition-approximately-800-acres-industrial-land-and\" target=\"_blank\" rel=\"noopener\">Slate&#8217;s website.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Slate Asset Management closed a deal to purchase a large portion of Stelco&#8217;s prime waterfront land for $518 million earlier this week with plans to turn the area into a state-of-the-art industri...","protected":false},"author":247,"featured_media":25792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8065],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/cekan.ca\/wp-content\/uploads\/2022\/11\/Stelco-sells-800-acres-to-build-world-class-industrial-park-in-Hamilton.jpg","_links":{"self":[{"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/posts\/25791"}],"collection":[{"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/comments?post=25791"}],"version-history":[{"count":1,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/posts\/25791\/revisions"}],"predecessor-version":[{"id":29291,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/posts\/25791\/revisions\/29291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/media\/25792"}],"wp:attachment":[{"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/media?parent=25791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/categories?post=25791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cekan.ca\/wp-json\/wp\/v2\/tags?post=25791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}