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  #301  
Old Posted Jun 6, 2017, 4:34 AM
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ScreamingViking ScreamingViking is offline
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I would guess this presupposes that the coke battery and blast furnace complexes do not get sold for those uses? (I think it unlikely, but you never know)

It's really staggering how large that area is.
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  #302  
Old Posted Jun 6, 2017, 11:57 PM
eatboots eatboots is offline
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Stelco/U.S Steel has only maintained a VERY small section of the property, most of what is down there hasn't been used in 10+ years, it would probably cost less to rebuild it than try and refurbish it.
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  #303  
Old Posted Jun 7, 2017, 1:16 AM
RaginRonic RaginRonic is offline
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http://www.thespec.com/news-story/73...greement-vote/

Quote:
Stelco: 1005 says yes in historic collective agreement vote


United Steelworkers Local 1005 has a new collective agreement with Stelco's owner-in-waiting Bedrock Industries, clearing the last major obstacle in a mega-restructuring deal to lift the steelmaker out of creditor protection.

With workers voting nearly 64% in favour of the new contract tonight, Stelco representatives will now present the takeover plan to Justice Herman Wilton-Siegel at a "Sanction Hearing" Friday at which the judge is expected to approve the plan.

The contract vote Tuesday follows ratification votes for Lake Erie Works Locals 8782 (a) and 8782 (b) last Friday and acceptance of the restructuring plan by all stakeholders in the court-supervised process under Companies' Creditors Arrangement Act (CCAA).

After the court "sanctions" the deal, people contesting or having claims will have 21 days to apply to the court. If no substantial issue arises, Bedrock will become the new owner of Stelco operations in Hamilton and Nanticoke on June 30.

The bargaining committee did not make a recommendation to the 500 person bargaining unit about whether or not to accept the offer and union officials declined to comment on the results Tuesday night.

McMaster University business professor Marvin Ryder said,"It's not utopia for the union members. But it was the best deal on the table."

He noted the workers in Hamilton will receive cost of living increases, and "there is a way forward" when it comes to gathering funds to pay for pensions and benefits for pensioners.

Hamilton Mayor Fred Eisenberger says he supports the Bedrock takeover but feels the city was unduly left out of the negotiations.

"We want Bedrock to begin operating," he said. "We are not going to try to thwart the proceedings in any way shape or form we want the (restructuring) to close."

One of the key features of the deal is the creation of a land trust, called Landco, for the steelmaker's 818-acre harbourfront property with environmental liability being backstopped by the province. Stelco would then lease a third of the property for its operations leaving the rest to be remediated for future development.

Bedrock will put $80 million towards the remediation.

Details about who would sit on the board that oversees Landco still has to be worked out but a source within the province's finance ministry says they are looking for people with financial expertise rather than people to represent various interests.

Eisenberger wrote a letter to Premier Kathleen Wynne last month about fears the land would be sold in a "fire sale" fashion, undermining its future potential. Under the original terms of the deal, the vacated land would be fixed up and sold or leased within five years.

The province has since lifted the time constraint.

However, the city is still looking for assurances that it will be involved in the future development of the lands.

"We want to step up the dialogue with the province and ultimately the federal government about next steps to make this best possible outcome for all concerned," said Eisenberger.

The provincial source said leaving the city out of the negotiations up till now was seen as the best way to get a deal. Once that is formalized by the court, there will be all kinds of opportunity for discussion about future use of the lands.
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  #304  
Old Posted Jun 7, 2017, 6:53 PM
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  #305  
Old Posted Jun 8, 2017, 3:28 AM
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ScreamingViking ScreamingViking is offline
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If the coke battery goes, that alone will vastly improve the view of the city from the Skyway, never mind any improvements to the land itself.

I could see parts of the blast furnace building being kept in some way, if possible, and the conceptual plan seems to show that. Though I have no idea what innards can be removed without having to take down most of the structure with them. It looks like it would offer lots of space, in floor area and on the vertical.

What's currently there, from this January 2015 Spec story -- For sale: Prime (contaminated) waterfront land



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  #306  
Old Posted Jun 10, 2017, 5:49 PM
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  #307  
Old Posted Nov 15, 2017, 3:21 PM
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King&James King&James is offline
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Time for some concepts! How much density does one need to spread say $1B of remediation into built space to make it feasible to build economically.
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