TORONTO, March 06, 2026 (GLOBE NEWSWIRE) — Tempus Capital Inc. (CSE: TEMP) and TUK Group are pleased to announce the closing of a new joint development project in Toronto. The project is expected to deliver up to eighteen residential units. Several additional sites are currently under contract, positioning the partnership for continued expansion throughout 2026.
This project represents another milestone in Tempus and TUK’s $100 million investment program focused on increasing the supply of purpose-built rental housing across Toronto. The partnership continues to target well-located urban sites capable of supporting mid-scale rental communities designed for working professionals and families.
Russell Tanz, President and CEO of Tempus Capital Inc., stated:
“This project reflects the market reality we are seeing today. Families need attainable, well-designed rental options and municipalities need partners who can deliver responsibly. Purpose-built rentals are a stabilizing asset class that revitalize neighbourhoods and create long-term value while providing reliable performance for shareholders.”
Jordan Alexander King, Partner at TUK Group, added:
“Toronto is experiencing a shift in how people choose to live. The growth of mid-sized purpose-built rentals gives families the space they need at a price point that works. These projects strengthen communities while also providing predictable, sustainable returns. We are proud to continue scaling our development pipeline alongside Tempus.”
Evan Ungar, Partner at TUK Group, commented:
“Our development pipeline continues to grow as we secure strategic sites across the city. This project and the additional properties under contract reflect our confidence in the long-term strength of the Toronto rental market. Purpose-built rentals remain resilient, support community growth and provide the steady income characteristics long-term investors are seeking.”
Market Context and Community Impact
As housing demand in Toronto continues to outpace supply, the market is increasingly shifting toward professionally managed purpose-built rental communities that offer affordability, modern design and long-term stability. Mid-scale rental developments like these support families who need more space than traditional small-format units can provide. They also bring new life to urban neighbourhoods through increased foot traffic, improved streetscapes and sustained community engagement.
For shareholders, purpose-built rental housing continues to demonstrate strong fundamentals due to consistent demand, stable occupancy rates and predictable income generation. This combination of community benefit and economic stability positions the Tempus and TUK partnership as a meaningful contributor to Toronto’s evolving housing landscape.
About Tempus Capital Inc.
Tempus Capital Inc. is a Canadian real estate company engaged in the acquisition, development and ownership of income-generating properties. Tempus trades on the Canadian Securities Exchange under the symbol TEMP and continues to pursue growth through strategic residential and mixed-use development projects.
About TUK Group
TUK Group is an Ontario-based real estate development firm focused on the creation of functional, community-oriented rental housing. Led by Jordan Alexander King and Evan Ungar, TUK specializes in identifying underutilized urban sites and transforming them into high-quality residential assets with strong long-term value.
Forward Looking Statements
This release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed or implied due to market conditions, regulatory approvals, construction costs and other factors. Tempus Capital Inc. and TUK Group undertake no obligation to update these statements except as required by law.
Media Contacts
TUK Group
Jordan Alexander King
[email protected]
Partner
Evan Ungar
Partner
[email protected]
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0fe774e0-16cb-44ba-83bc-ae93e48d992f
https://www.globenewswire.com/NewsRoom/AttachmentNg/469a4796-117d-43bf-be86-06f44103f813