Slate Asset Management Completes Resubmission of Draft Plan of Subdivision for Steelport

At roughly 800 acres, Steelport will reshape an underutilized port into one of the largest, state-of-the-art intermodal industrial hubs in the country, giving enhanced access and opportunity back to people and the City, and connecting the region to the world. The project is estimated to generate $3.8 billion in economic value and create 23,000 jobs across the Greater Toronto and Hamilton Area.

“We are proud to be advancing our ambitious vision for Steelport with this resubmission,” said Steven Dejonckheere, Managing Director at Slate. “Our master plan for this project aims to reflect the aspirations of a diverse group of Hamiltonians – including local community members, prospective tenants, municipal staff, and local government officials – to deliver an accessible, innovative, and thriving hub of employment and economic prosperity for the region for decades to come.”

Slate’s original application for a Draft Plan of Subdivision unveiled a 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. Slate’s resubmission of the Plan 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 most impressive and historic industrial infrastructure, and the Battery, which is envisioned as a hub for the City’s creative production industry and celebrations of cultural heritage.

Refinements to Slate’s original submission include minor 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 at Steelport, which will focus on unlocking approximately 100 acres of land within the southeast portion of the site to accommodate existing demand for employment space in Hamilton.

Alongside its development applications, Slate has been actively engaging with the community as part of its long-term commitment to the City of Hamilton. In September 2024, Slate announced the details of A Healthier Hamilton, a charitable giving initiative that will support the Hamilton community through partnerships with and funding for local non-profit organizations focused on health, environment, and economic development. Slate committed an initial $120,000 in funding to an inaugural group of partner organizations in 2024, which included the Hamilton Sports Group’s Hearts in the Huddle initiative—a program that connects athletes from the Hamilton Tiger-Cats and Forge FC with McMaster Children’s Hospital and its outpatient programs at Chedoke.

In addition to its charitable giving contributions, Slate is bringing new amenities and elements of art and culture to the Steelport site as part of its broader commitment to creating vibrant spaces within its communities. In October 2024, Slate introduced a unique public art installation at the entrance of Steelport. Inspired by the dynamic nature of the site, local artists Ver Sands and Lester Coloma transformed four old sea-can containers into colourful and emblematic canvases that depict the legacy of the Steelport lands, Slate’s vision for its future, and the spirit of Hamilton and the surrounding community.

Construction on phase one of the development is expected to begin in the second half of 2025. For more information on Steelport, please visit thesteelport.com.

About Slate Asset Management

Slate Asset Management is a global investor and manager focused on essential real estate and infrastructure assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners across the real assets space. 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, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.

Media Contacts

Slate Asset Management

Karolina Kmiecik

[email protected]