Energy-efficient building will bring high-quality rental homes for families and professionals to one of Toronto’s most established neighbourhoods

TUK Bayview Rendering

Rendering of TUK Groups Bayview Project

TORONTO, Oct. 29, 2026 (GLOBE NEWSWIRE) -- TUK Group today announced that it has entered into a firm agreement to acquire a property on Bayview Avenue, just off Toronto’s Bridle Path, where the company plans to develop an approximately 30-unit purpose-built rental building for families and professionals.

Bayview joins TUK Group’s Lambton, Coxwell and McRoberts developments, bringing the company’s four-project Toronto pipeline to an estimated combined completed value of approximately $40 million.

“Evan and I have looked at thousands of properties, but occasionally a site makes you stop and think about what your company could become,” said Jordan Alexander King, Co-Founder and Partner of TUK Group. “Bayview is that site for us. It’s an opportunity to create something that will represent TUK in Toronto for decades.”

A RARE RENTAL OPPORTUNITY OFF THE BRIDLE PATH

The site sits on Bayview Avenue in Bridle Path-Sunnybrook-York Mills, steps from the Bridle Path, one of Canada’s most prestigious residential enclaves. The surrounding area includes Sunnybrook Health Sciences Centre, home to Canada’s largest trauma centre and about 1.3 million patient visits a year, as well as Sunnybrook Park and the Don Valley trail system, along with some of the city’s most respected schools, including Crescent School and Toronto French School. Highway 401 and the Yonge Street subway corridor are minutes away.

Despite its prominence, the neighbourhood offers very few purpose-built rental options. At the 2021 census, only about 12% of households in Bridle Path-Sunnybrook-York Mills rented their home, compared with nearly half of households across Toronto. More than two-thirds of homes in the area are single-detached houses, leaving limited choice for families who want access to the area’s schools and green space without buying, and for the healthcare, education and business professionals who work nearby, including the thousands of staff at Sunnybrook. TUK Group’s preliminary plan is a design-led building of one- and three-bedroom rental homes, bringing high-quality, professionally managed rental housing to a neighbourhood where it is in short supply.

An architect has been engaged, preliminary renderings have been prepared and planning work is underway.

The building will use insulated concrete form (ICF) construction, which offers strong energy efficiency, durability and sound separation between homes. TUK Group intends to finance the project through CMHC’s MLI Select program, with plans to meet energy-efficiency and affordability targets, including a portion of homes planned to be offered at affordable rents.

“The decisions made during planning and construction eventually become someone’s home,” said Evan Ungar, Co-Founder and Partner of TUK Group. “Because we stay involved through the full life of a building, we design for how it will actually live and operate, not just for an approval or a construction milestone.”

The proposed development remains subject to final design, municipal review and all required approvals.

FOUR TORONTO PROJECTS

TUK Group’s Toronto pipeline now includes four projects at different stages of acquisition, planning and construction, totalling more than 60 planned rental homes:

  • Lambton – foundation walls poured; construction advancing
  • Coxwell – zoning approved; now in the permit phase
  • McRoberts – under firm agreement; approaching the permit phase
  • Bayview – under firm agreement; planning underway

TUK Group operates as an integrated platform, with in-house capabilities spanning acquisition, development, construction, lease-up, property management and long-term operations. That structure lets construction feasibility, operating costs and resident experience shape each project from its earliest stages.

INVESTING IN CANADIAN RENTAL HOUSING

Toronto continues to face a structural shortage of purpose-built rental housing, particularly family-sized homes. TUK Group’s projects are designed around long-term ownership and CMHC-insured financing, an approach that has drawn interest from Canadian and international partners seeking stable, long-term exposure to Canadian real estate. The company’s existing relationships include a previously announced $100 million Toronto housing partnership with publicly traded Tempus Capital Inc.

“Capital is important, but execution is what gives capital purpose,” King said. “Our responsibility is to identify strong locations, develop responsibly and create real estate that serves Toronto over the long term.”

Additional architectural materials and development milestones are expected to be released as planning advances.

ABOUT TUK GROUP

TUK Group is an integrated Ontario real estate company that identifies, acquires, develops, builds, leases and operates community-oriented rental housing, with active holdings across 12 Ontario cities. For more information, visit https://tukgroup.ca.

MEDIA CONTACT

Evan Ungar
Co-Founder and Partner, TUK Group
416-540-9159
Evan@tukcapital.com
Renderings available on request.

IMPORTANT NOTICE

This news release is provided solely for corporate and informational purposes and describes proposed real estate acquisitions and developments. It does not constitute an offer to sell or a solicitation of an offer to purchase any security, investment product or financial instrument in Canada or any other jurisdiction. No investment decision should be made based on this release. Any securities transaction, if undertaken, would be conducted only through applicable offering documentation, appropriate registration or available exemptions, and in accordance with applicable securities laws.

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information concerning the anticipated acquisition and proposed development of the Bayview property, the estimated combined completed value and planned unit counts of TUK Group’s four-project Toronto pipeline, contemplated designs, planning processes and future project milestones. Estimated completed values reflect TUK Group’s internal projections and are not appraisals. The Bayview and McRoberts acquisitions remain subject to closing, and the developments remain subject to design development, municipal review, regulatory approvals, construction costs, financing, market conditions and other risks. Plans, unit counts and anticipated values may change materially, and there can be no assurance that the acquisitions or developments will be completed in the form or on the timelines currently contemplated. TUK Group does not undertake to update forward-looking information except as required by applicable law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f81e3129-3df2-42df-ae2d-61d003785b76