Rush — Rental Market Data

Rush at 2 Augusta Ave realizes an average lease rent of $2,908 per month, which sits $1,140 below the four-comp average of $4,048 and $125 below the Downtown West submarket leased benchmark of $3,033. Waterworks at 505 Richmond St W (0.04 km, 13 closed leases) averages $5,435 per month at $7.21 per square foot across 787 square feet, placing Rush $2,527 lower on a nominal monthly basis. Cityscape Terrace at 500 Richmond St W (0.07 km, 3 closed leases) averages $4,233 per month at $5.75 per square foot over 883 square feet, with Rush trading $1,325 below that figure. The Sylvia at 50 Camden St (0.11 km, 2 closed leases) averages $2,475 per month at $3.98 per square foot across 625 square feet, making Rush the higher-renting building by $433 per month in this pairing. 533 Richmond at 533 Richmond St W (0.12 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark against which to compare.

Rush at 2 Augusta Ave leases at $4.25 per square foot across an average 690-square-foot suite, positioning it at a discount to both Richmond Street active peers while commanding a modest premium over The Sylvia. Against Waterworks (13 closed leases, $7.21 per square foot, 787 square feet), Rush trades at a $2.96-per-square-foot discount (41.1 percent below) and provides 97 fewer interior square feet; the lower nominal rent of $2,527 per month is driven by both the smaller footprint and the materially lower per-square-foot rate, not by a single factor. Cityscape Terrace (3 closed leases, $5.75 per square foot, 883 square feet) shows a similar pattern: Rush offers a $1.50-per-square-foot discount (26.1 percent below) with 193 fewer square feet, and the $1,325 monthly savings reflects the combined effect of reduced interior area and a lower rate. The Sylvia (2 closed leases, $3.98 per square foot, 625 square feet) inverts the dynamic: Rush commands a $0.27-per-square-foot premium (6.8 percent above) while providing 65 more interior square feet, meaning the $433 higher monthly rent is justified by both a larger suite and a slightly higher per-square-foot valuation. Tenants choosing Rush over the two Richmond Street towers gain a newer building and a richer amenity set at a lower total cost, while those comparing against The Sylvia receive more space for a modestly higher price.

Rush at 2 Augusta Ave offers an eight-feature lifestyle package that includes a Yoga Studio, Pet Wash Station, and Indoor Rock-Climbing Wall—three amenities absent from every nearby competitor in this set. Waterworks (505 Richmond St W) counters with a Concierge & Security desk, an On-site YMCA, a European-Style Food Hall, and a Meeting Room that Rush does not provide; Cityscape Terrace (500 Richmond St W) offers only a Concierge & Security desk and a Rooftop Terrace; The Sylvia (50 Camden St) adds a Garden & Courtyard and Meeting Room not found at Rush; and 533 Richmond (533 Richmond St W) lists solely a Concierge & Security desk. Rush's shared features—Gym & Fitness Centre, Party & Lounge Room, Dining Room & Kitchen, Rooftop Terrace, and BBQ Area—overlap with Waterworks and The Sylvia, but the building's distinctive wellness-and-active-lifestyle trio (yoga, rock climbing, pet wash) differentiates it from a peer set that leans toward concierge service and formal meeting spaces. This amenity mix best serves young professionals and active-lifestyle renters in their late twenties to mid-thirties who prioritize on-site fitness variety, pet-friendly convenience, and social gathering space over white-glove concierge service or corporate meeting infrastructure.