Welcome Back, Stelco - Page 20

ihateittoo · #1 Posted **Jun 28, 2024, 4:08 PM**

thread is here:
https://skyscraperpage.com/forum/sho...ight=steelport

TheHonestMaple · #2 Posted **Jun 28, 2024, 8:56 PM**

I feel like this project will never happen. I hope it does. But I just don't think the demand is there for it. And I also just get the feeling they are feeding us pretty renders, and if it does happen it won't look anything like it.

I wish Slate would focus their efforts on Corktown Condos.... which appear to have completely fizzled out.

TheRitsman · #3 Posted **Jun 30, 2024, 7:53 PM**

Quote:

Originally Posted by TheHonestMaple

I feel like this project will never happen. I hope it does. But I just don't think the demand is there for it. And I also just get the feeling they are feeding us pretty renders, and if it does happen it won't look anything like it.

I wish Slate would focus their efforts on Corktown Condos.... which appear to have completely fizzled out.

There's actually massive demand for ready to use space for light industrial, cargo, and things like that. The big reason nothing had happened here is because Stelco owned it, and because it's in a dilapidated state. With some fixing up, companies will be clamouring to get industrial space near the QEW, the US and possible water access.

ScreamingViking · #4 Posted **Jun 30, 2024, 8:56 PM**

Quote:

Originally Posted by TheRitsman

There's actually massive demand for ready to use space for light industrial, cargo, and things like that. The big reason nothing had happened here is because Stelco owned it, and because it's in a dilapidated state. With some fixing up, companies will be clamouring to get industrial space near the QEW, the US and possible water access.

Exactly. There have been stories about the Port Authority running out of industrial property... I'm sure they were quite interested in this land.

Someone else may be re-developing it, but it will be a massive boost for the city and the entire region in many ways. We're probably lucky a private entity is running the show, even if they're having a tough time right now in some aspects of their business.

There are lots of under- and un-utilized industrial sites in this city, not all adjacent to the port. As supply wanes and demand continues to grow, the cases to remediate and repurpose them for new economic activities get stronger.

TheHonestMaple · #5 Posted **Jun 30, 2024, 9:38 PM**

I hope you're right! Fingers crossed this one is a success, our city needs it.

craftbeerdad · #6 Posted **Jul 2, 2024, 2:44 PM**

Slate is challenged on the real estate side these days due to rising costs, but this will happen as there's many vested parties interested in seeing this completed. Whether it will look like the renders? Who knows. Hopefully, as they do look impressive.

On another note, Hamilton should strive to incorporate ideas Halifax has undertaken with their waterfront. Many different areas, installations, and green spaces. Heck they just decommissioned an over pass near the casino to add a bandshell, park and more trails.

However Hamilton's waterfront will take time to change over sadly due to the amount of red tape and compromised lands from industry of yesteryear. So maybe not in my life time, but there's a lot of upside in gradual steps.

ScreamingViking · #7 Posted **Jul 3, 2024, 5:20 PM**

Quote:

Originally Posted by craftbeerdad

On another note, Hamilton should strive to incorporate ideas Halifax has undertaken with their waterfront. Many different areas, installations, and green spaces. Heck they just decommissioned an over pass near the casino to add a bandshell, park and more trails.

However Hamilton's waterfront will take time to change over sadly due to the amount of red tape and compromised lands from industry of yesteryear. So maybe not in my life time, but there's a lot of upside in gradual steps.

The city's hands are probably tied for anything in the "industrial" side of the port. Beyond being a stakeholder, and the usual municipal approvals process.

West Harbour has become a people-place and will be more so soon.

It'll probably always be a work in progress, but I hope to live long enough to see/experience additional significant changes. Compared to when I was a teen in the 1980s the waterfront is night-and-day different; Confederation Park and the beach strip have evolved in big ways too.

jonny24 · #8 Posted **Jul 15, 2024, 6:36 PM**

https://financialpost.com/pmn/busine...-c70-per-share

Stelco will (pending a vote?) be acquired by Cleveland-Cliffs. The release says they will maintain the name, operations, local partnerships, etc.

ScreamingViking · #9 Posted **Jul 16, 2024, 11:28 AM**

Not a bad "investment" by Kestenbaum and his colleagues.

Hopefully Cliffs doesn't pull the same kind of stuff U.S. Steel did, but I'd be surprised if the best and most specialized parts of Stelco aren't all that remain in the end, especially if the Canadian Dollar ever strengthens again.

Some photos from The Spec

1959:

1973:

1989:

2004:

2022:

• Video Link

And, more recently:

NortheastWind · #10 Posted **Jul 16, 2024, 1:13 PM**

I hope they discontinue the coke ovens in Hamilton.

ScreamingViking · #11 Posted **Nov 1, 2024, 4:25 PM**

Is this legit? Or US Steel part II? I'm wary of the latter.

I think we're going to see a renaming of our largest sports facility to Stelco Stadium or something similar in the near future though.

U.S.-based Cleveland-Cliffs gets final approval from federal government to buy Stelco
The $3.4B deal closes Nov. 1, according to Cleveland-Cliffs

https://www.cbc.ca/news/canada/hamil...elco-1.7369816

By Aura Carreño Rosas
CBC News
Nov 01, 2024

The federal government has given the final approval for the acquisition of Hamilton steelmaker Stelco Holdings Inc. by U.S.-based Cleveland-Cliffs Inc.

In a statement released on Wednesday, Minister of Innovation, Science and Industry François-Philippe Champagne said he approved the investment "following an extensive review under the Investment Canada Act."

Champagne said in the statement the approval is contingent on a five-year commitment that included maintaining Stelco's head office in Hamilton, carrying operations under the name "Stelco, a Cleveland-Cliffs Company."

Additionally, the company is also required to continue to employ at least the same number of unionized and most of the non-unionized workers, and honouring existing collective bargain agreements as well as pension and benefit commitments.

Ron Wells, president of the USW Local 1005 that represents Hamilton Stelco workers, said, "there needs to be transparency regarding any legal commitments around job protections, capital investments, production levels and environmental sustainability.

"We believe we, the workers, are in the best position to ensure these commitments are fulfilled."

He was echoing a Sept. 25 letter to Champagne written by the USW's national director Marty Warren expressing his concern about the acquisition.

The letter expressed Warren's concerns given past "negative effects of previous foreign takeovers."

"We must ensure that the same mistakes are not repeated," Warren said in the letter.

"It is essential that any commitment, whether it concerns investment, job security, pension protection or environmental sustainability, be made public and enforceable under the Canada Investment Act."

The $3.4 billion deal closes Nov. 1, according to a press release by Cleveland-Cliffs.

In July, a Stelco news release said Cleveland-Cliffs will continue Stelco's current community commitments.

The company will also retain its partnership with the Hamilton Tiger-Cats and Forge FC, and its 40 per cent equity interest and the master lease of Tim Hortons Field.