NEXT at Elgin East - Next Phase — Rental Market Data

NEXT at Elgin East - Next Phase lists 1 active unit as of August 31, 2026, priced at $2,650 per month across both average and median asking metrics. The active suite spans 650 square feet with an asking rate of $4.08 per square foot. The single active listing represents a 1-Bedroom + Den layout, positioning current inventory exclusively within compact executive configurations.

The dominant active layout at NEXT at Elgin East - Next Phase is the 1-Bedroom + Den, accounting for 1 active listing and representing 100 percent of current inventory. This single available tier averages $2,650 per month across 650 square feet at an asking rate of $4.08 per square foot.

NEXT at Elgin East - Next Phase posts a minimum entry rent of $2,650 per month and a peak asking rent of $2,650 per month, creating a dollar spread of $0 and a percentage spread of 0 percent. Median asking rent matches this figure at $2,650 per month. The entry-level and peak suite is identical, consisting of a 1-Bedroom + Den layout spanning 650 square feet priced at $4.08 per square foot.

Active den premiums at NEXT at Elgin East - Next Phase cannot be isolated because active den premium data fields are null. Active parking premium data is inconclusive due to an unreliable outlier or insufficient sample, meaning parking stall costs cannot be reliably determined from current listings.

NEXT at Elgin East - Next Phase asks $2,650 per month at $4.08 per square foot, which compares to the Richmond Hill submarket asking benchmark of $2,800 per month at $3.82 per square foot. The higher nominal rent variance is resolved by compact suite sizing, while the building's asking rate per square foot tracks 6.8 percent above the submarket asking benchmark. The property accounts for 1.1 percent of the submarket's 94 active listings.

NEXT at Elgin East - Next Phase achieves an average lease rent of $2,462 per month, trading competitively against the overall micro-market average of $2,590 per month across key benchmarks including NEXT at Elgin East and Court. Its immediate phase sibling, NEXT at Elgin East located at 6 David Eyer Rd, reports an average lease rent of $2,613 per month at $3.15 per square foot across an average of 842 square feet. Further down the corridor, Silverwoods I & II at 11121 Yonge St records an average lease rent of $2,600 per month at $3.47 per square foot across 750 square feet. Court at 11211 Yonge Street commands an average lease rent of $2,717 per month at $2.80 per square foot across a larger average footprint of 982 square feet. Finally, Bristol Condominiums at 11611 Yonge St registers an average lease rent of $2,430 per month at $3.51 per square foot across 707 square feet.

NEXT at Elgin East - Next Phase delivers a compelling value proposition with an average leased rate of $3.57 per square foot across an average size of 701 square feet, aligning closely with submarket expectations while offering superior finish quality compared to older regional inventory. Renters at the subject building trade interior square footage for modern layout efficiency, lower utility burdens, and brand-new construction attributes when evaluated against Court, which offers larger 982 square foot layouts at a lower rate of $2.80 per square foot. Conversely, tenants seeking comparable density and modern execution find that NEXT at Elgin East at 6 David Eyer Rd provides larger 842 square foot suites at $3.15 per square foot, whereas Bristol Condominiums delivers smaller 707 square foot footprints at a comparable $3.51 per square foot.

NEXT at Elgin East - Next Phase features an extensive lifestyle and amenity package that surpasses standard mid-market offerings in Richmond Hill, catering directly to contemporary professionals and young families seeking high-end shared spaces. The building distinguishes itself through five signature amenities: a dedicated Pet Wash Station for convenient pet care, an expansive Rooftop Terrace for outdoor entertaining, an indoor Kids' Play Room for family engagement, an onsite Yoga Studio dedicated to wellness, and a fully equipped Business Centre supporting remote work arrangements. When contrasted with nearby peers like Silverwoods I & II, which offers traditional assets such as an indoor pool, hot tub, and library, or Bristol Condominiums, which provides a standard party room and garden courtyard, the subject building delivers a more modern wellness and community-oriented lifestyle profile. Furthermore, while Court incorporates specialized wellness spaces like an onsite medical centre, pharmacy, and massage therapy services, NEXT at Elgin East - Next Phase focuses heavily on lifestyle flexibility, appealing strongly to tech-enabled professionals and modern urban households.