Stelco land redevelopment a ‘major opportunity’ for Hamilton taxpayers

The city and Stelco have taken a major step" toward the redevelopment of former lakefront steelmaking lands in Hamilton.

A holding provision will apply to the rezoning of roughly 800 acres at 386 Wilcox St. by the harbour.

This establishes that a series of studies - including servicing and transportation plans - must be prepared before major development can happen.

But while the provision is in place, development of up to 1,000 square metres and site remediation can still happen.

This is a pretty major step to the redevelopment of that property," Coun. John-Paul Danko said during Tuesday's planning committee meeting.

Future industries on the site are also a major opportunity" for taxpayers, Danko added.

City officials said Slate Asset Management will be the new owner of the land.

Stelco is technically" still the owner, but once the deal closes, Slate will own the land, Dana Anderson, a planning consultant on the file, said via email.

Representatives of Slate, which also plans to redevelop the Corktown Plaza on John Street South into residential highrises, wouldn't acknowledge a deal when contacted Tuesday.

Should we acquire any additional land or buildings in Hamilton, we will disclose those holdings when appropriate," spokesperson Karolina Kmiecik said via email.

Likewise, Trevor Harris, Stelco's vice-president of corporate affairs, would only say the steelmaker remains the owner of the lands" at 386 Wilcox St.

Previously, Stelco said a plan to sever unused land into seven lots would generate about $12 million in tax revenue.

Planning director Steve Robichaud told councillors he didn't think Slate would be in a position to submit a rezoning application until late this year.

Robichaud said the potential for redevelopment represented significant employment opportunities" at the bayfront.

There's incredible opportunities to really transform the city's waterfront and still allow for continued manufacturing opportunities."

There could be a range of uses, including manufacturing, salvage yards, warehouses and some office use, noted Anita Fabac, the city's manager of development planning.

The redevelopment is just starting in the master plan process. Through that process, the range of employment uses will be better defined," Anderson said in an email.

Teviah Moro is a reporter at The Spectator. tmoro@thespec.com