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Slate Asset Management Affirms Its Long-Term Commitment to Hamilton, Ontario with Event Celebrating Steelport and Corktown Developments
Monday, October 16, 2023
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Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, hosted a celebratory event in Hamilton, Ontario on October 11th to highlight its investment in the City of Hamilton through two influential development projects: Steelport and Corktown.
The event was attended by over 80 project partners, including local members of Provincial and Municipal Parliament, City officials, local stakeholders, residential and industrial brokers, and future tenants. Slate’s senior leadership team and Corktown project partners, RAD Marketing, unveiled new details of Corktown, the firm’s design-forward residential development in the city’s downtown. New renderings and site plans for Steelport, the firm’s 800-acre industrial development on the historic harbourfront of Hamilton, were also shared. The event was hosted on the future Steelport grounds, located at 530 Gage Avenue North.
Blair Welch, Slate’s Co-founding Partner, kicked off the formal event by sharing what this investment means to him, and to Slate: “Growing up in this area, I was always proud that steel was produced here because it helped build this country. Now, with our investment in Steelport – named partly in celebration of Hamilton’s proud heritage as the Steel Capital of Canada – and Corktown, we are helping to honour a century of enterprise while forging a new future for the city, and we are excited to share these plans with the Hamilton community.”
Slate acquired the 800-acre industrial parcel from Stelco Inc. in 2022. In 2023, Slate introduced a new name, identity, and preliminary vision for the industrial lands and buildings, calling the development Steelport. Slate’s vision is to reshape the underutilized property into one of the largest, state-of-the-art intermodal industrial hubs in the country. The redevelopment of the site will bring new industry to Hamilton and is projected to create up to 23,000 new jobs and inject up to $3.8 billion into Ontario’s economy over the next decade, according to an economic study conducted by EY. It will also make portions of the Steelport site accessible to the public for the first time in a century.
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Alongside this large-scale industrial development, in 2023, Slate Asset Management launched sales for Corktown, its first mixed-use residential project in Hamilton. Corktown is Slate’s vision for a design-forward 27-storey tower and 14-storey mid-rise, with retail spaces at the ground level. The development is set to redefine luxury living in Hamilton with high-end amenities and a premium location in the City’s downtown. It is located at one of the most connected areas of Hamilton – residents will have access to a variety of local parks and nature trails, St. Joseph’s Hospital and McMaster University, as well as historic pubs, breweries, high-end restaurants, and local markets. The Hamilton GO Centre is a 5-minute walk from Corktown, and access to Highway 403 and the QEW is just a 10-minute drive.
Brandon Donnelly, Managing Director, said: “We think of ourselves as city-builders, meaning we think beyond each of our individual projects and more about what we can give back to the communities we invest in. With Corktown, not only are we bringing quality architecture and design to the region, but we are investing in jobs, economic development, and the greater Toronto housing market. We think this commitment to the City Hamilton is really the beginning of a renaissance, and we’re excited for what’s to come.”
The celebratory event concluded with remarks from Riz Dhanji of RAD Marketing who leads sales for the Corktown project: “Architecture and design are the foundation of cities around the world, and we believe Slate is one of the most important developers in this node and in the GTHA. The exceptional design, quality, and architectural expression that Slate is bringing to Corktown is something Hamilton hasn’t seen before, and we’re proud to be working with their team to carry out their long-term vision in the region.”
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Slate expects to submit a formal master plan for Steelport in the coming months and plans to break ground on phase one of the development in 2024. Corktown East, the 27-storey residential tower of the Corktown development, is currently offering studios, one bedroom, one plus den, two bedroom, and two plus den suites ranging from 340 sq. ft. to 851 sq. ft. Prices start from the $500s. More information can be found at corktown.condos and thesteelport.com.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
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