Slate Asset Management closed an offer to purchase a large part of Stelcos prime waterside land for $518 million previously this week with plans to turn the area into an advanced industrial park and shipping container yard.The announcement was made by Slate in a media release on Wednesday, unveiling their plans to change about 800 acres of commercial land into a brand name new commercial district. According to a research study by Ernst & & Young, the new development could produce up to 23,000 new tasks and $3.8 billion for Ontarios economy.Today, Slate acquired 800 acres of commercial land in Hamilton, Ontario from Stelco Inc., with strategies to redevelop the website into a first-rate commercial park that will produce tasks, accelerate economic development, and guarantee ecological sustainability. Its distance to Lake Ontario, a busy rail line, global airports, and the U.S. land border make it a really unique industrial development opportunity.While it is not yet particular what the plans for the site will look like, the industrial park is fit for a range of use cases as it will be developed for organizations that utilize intermodal containers.
Stelco sells 800 acres to build world-class industrial park in Hamilton
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