The redevelopment of the Port Lands is unlikely to bring in more industry and the usage of it when there was more there was VERY low. I agree that it's a pity to move any heavy freight from rail to road but that boat (or train) has long sailed.
This from the Staff report:
Over the past 10 to 15 years, the main user of the Harbour Lead Line has been Toronto Water, with deliveries to the Ashbridges Bay Treatment Plant. The last shipment to PortsToronto's 8 Unwin Avenue facility was in 2010. The last shipment to the CanRoof facility at 560 Commissioners Street was in 2014.