Promenade Park — Rental Market Data

Promenade Park has 2 active listings as of August 31, 2026, with asking rents ranging from $2,300 to $2,550 per month, an average of $2,425, and a median of $2,425. Both units average 693 square feet at an asking rate of $3.50 per square foot, and the entire active inventory is concentrated in the one-bedroom-plus-den layout at 100 percent share. The current offering leans toward compact entry-level suites rather than multi-bedroom executive configurations, with no two- or three-bedroom units on the market.

The sole active layout at Promenade Park is the one-bedroom-plus-den, accounting for both available units and 100 percent of active inventory. This small selection of two listings averages $2,425 per month across 693 square feet at $3.50 per square foot, with no other bedroom tiers currently represented. Renters seeking two-bedroom or larger configurations will need to look beyond this building for available options.

Promenade Park's two active listings span a $250 spread, from a minimum entry rent of $2,300 per month to a peak asking rent of $2,550 per month, a 10.9 percent range. The median asking rent sits at $2,425 per month. The entry-level unit is a one-bedroom-plus-den at 685 square feet and $3.36 per square foot, while the peak unit is also a one-bedroom-plus-den at 700 square feet and $3.64 per square foot, reflecting a modest 15-square-foot size difference between the two listings.

Promenade Park's active den premium cannot be reliably quantified, as both available units already include a den within their base configuration and no separate den-only comparison exists in the current sample. Verified parking at this building carries a confirmed premium of $250 per month for an assigned stall. No additional amenity or storage premiums are isolated in the active listing data.

Promenade Park's active asking rent of $2,425 per month and $3.50 per square foot both trail the Thornhill submarket asking benchmarks of $2,726 per month and $3.66 per square foot, placing the building 4.4 percent below the neighborhood asking rate per square foot. The lower nominal rent is explained by suite size: active units average 693 square feet, which is 52 square feet smaller than the submarket implied average of 745 square feet. Promenade Park's two listings represent a small slice of the broader market, comprising 2 out of 63 available listings in the Thornhill submarket.

Promenade Park's average realized lease rent of $2,700 per month sits $160 below the overall comp benchmark of $2,860, driven primarily by the subject's smaller average suite footprint relative to the 1990s-era Royal Promenade buildings. Promenade Park II at 88 Promenade Circ (0.01 km, 3 closed leases) averaged $2,725 per month at $3.17 per square foot across 867 square feet, placing the subject just $25 higher in nominal rent despite 67 fewer square feet. Royal Promenade II at 110 Promenade Circ (0.08 km, 2 closed leases) averaged $3,200 per month at $2.46 per square foot over 1,300 square feet, meaning the subject commands a $500 higher monthly rent while providing 500 fewer square feet. Royal Promenade I at 120 Promenade Circ (0.19 km, 5 closed leases) averaged $3,076 per month at $2.78 per square foot across 1,110 square feet, with the subject trading $376 higher in nominal rent but 310 fewer square feet. Promenade Park Towers – Building B at 50 Upper Mall Way (0.21 km, 16 closed leases) averaged $2,439 per month at $3.94 per square foot over 642 square feet, making the subject $261 lower in monthly rent while offering 158 more square feet.

Promenade Park leases at $3.38 per square foot across an average 800-square-foot suite, a rate that exceeds the overall comp benchmark of $3.09 per square foot while delivering a smaller interior footprint than the 980-square-foot comp average. Against Promenade Park II, the subject trades at a $0.21 per square foot (6.6 percent) premium while providing 67 fewer interior square feet, so the modest $25 monthly rent increase reflects a tighter layout rather than a valuation gap. Royal Promenade II presents the sharpest contrast: the subject commands a $0.92 per square foot (37.4 percent) premium over that 1993 building while offering 500 fewer square feet, meaning the $500 higher nominal rent is almost entirely a function of the subject's compact 800-square-foot footprint versus the comp's 1,300-square-foot suites. Royal Promenade I shows a similar pattern, with the subject at a $0.60 per square foot (21.6 percent) premium and 310 fewer square feet, translating to a $376 higher monthly rent driven by reduced interior space. Promenade Park Towers – Building B inverts the dynamic: the subject trades at a $0.56 per square foot (14.2 percent) discount below the 2025 tower while providing 158 more interior square feet, so the $261 lower monthly rent reflects a larger, less rate-dense suite rather than a weaker asset position.

Promenade Park offers an eight-feature lifestyle package anchored by an indoor pool, hot tub, sauna and steam room, gym, party lounge, games and billiards room, media and theatre room, and concierge security. The indoor aquatic suite is the building's signature differentiator: Royal Promenade I and Royal Promenade II both feature only outdoor pools, making the subject's year-round indoor swimming and spa access a genuine seasonal advantage in Vaughan's climate. Promenade Park II adds a putting green, meeting room, and garden courtyard that the subject lacks, while Promenade Park Towers – Building B extends its package with a yoga studio, golf simulator, rooftop terrace, business centre, dining room, children's playground, indoor kids' play room, dog run, pet wash station, and parcel room—facilities entirely absent from Promenade Park. The Royal Promenade pair counters with tennis and pickleball courts (and squash at Royal Promenade I) plus BBQ areas and garden courtyards that the subject does not provide. This amenity mix best serves professionals and small households who prioritize private indoor wellness and aquatic recreation over outdoor sports courts, pet infrastructure, or dedicated remote-work spaces, positioning Promenade Park as a lifestyle-oriented mid-rise for renters who value a turnkey indoor fitness and social environment within a walkable Thornhill corridor.