Slate buys 800 acres in Hamilton, Ontario, from Stelco

Slate Asset Management has bought 800 acres of industrial land and buildings in Hamilton, Ontario, from Stelco.

Slate plans to redevelop the site into a world-class industrial park with the potential to create up to 23,000 new jobs across the Greater Toronto & Hamilton Area and inject as much as C$3.8 billion ($3 billion) into Ontario’s economy, according to an economic study conducted by EY.

The site’s strategic location presents a one-of-a-kind industrial development opportunity in North America, offering direct access to the Great Lakes and the St. Lawrence Seaway, the U.S. land border, Ontario’s highway system, on-site rail connecting into Ontario’s greater Golden Horseshoe network, as well as nearby international airports in Hamilton and Toronto.

“This project represents a defining opportunity to reactivate a massively underutilized parcel of land that has global industrial relevance,” said Brady Welch, founding partner at Slate. “We are c