Water Park City I — Rental Market Data

Water Park City I has three active listings as of August 31, 2026, with asking rents ranging from $1,900 to $5,950 per month, an average of $3,283, and a median of $2,000. The average active suite measures 700 square feet at an asking rate of $4.78 per square foot. Studio units account for 66.7 percent of current inventory, meaning the available mix leans toward compact entry-level layouts rather than multi-bedroom executive suites.

Studios dominate Water Park City I's active inventory with two listings representing 66.7 percent of available units, averaging $1,950 per month across 400 square feet at $4.88 per square foot. A single 2-bedroom unit makes up the remaining 33.3 percent, listed at $5,950 per month for 1,300 square feet at $4.58 per square foot. No one-bedroom or den configurations are currently on the market.

Water Park City I's active asking rents span from a $1,900 entry point to a $5,950 peak, a dollar spread of $4,050 or 213.2 percent. The median asking rent sits at $2,000 per month, pulled down by the two studio listings. The entry-level suite is a 400-square-foot studio priced at $4.75 per square foot, while the peak listing is a 1,300-square-foot 2-bedroom at $4.58 per square foot, meaning the larger unit actually carries a lower rate per square foot despite its significantly higher monthly cost.

Water Park City I's active den premium and associated square-footage delta cannot be quantified from the current listing sample, as no den configurations are among the three available units. Parking stall costs also cannot be reliably isolated from the available data; the paired sample is insufficient to produce a defensible monthly premium figure, and no specific parking fee should be assumed when budgeting for a spot at this address.

Water Park City I's active asking average of $3,283 per month and $4.78 per square foot sits above the CityPlace / Fort York submarket asking benchmark of $3,101 per month and $4.58 per square foot, a 4.4 percent premium on a rate-per-square-foot basis. The nominal monthly rent gap is modest because the building's average active suite (700 sq. ft.) is comparable to submarket norms, so the premium reflects pricing rather than a footprint advantage. Water Park City I's three listings represent roughly 2 percent of the 148 total active units available across the submarket.

Water Park City I's average realized lease rent of $2,822 per month sits $154 above the four-comp benchmark of $2,668, with the spread driven by its larger average suite footprint rather than a rate-per-square-foot advantage. Atlantis & Aquarius at Water Park City (231 Fort York Blvd, 0.06 km, 16 closed leases) averaged $2,523 per month at $4.33 per square foot across 599 square feet; Neptune 1 at Water Park City (215 Fort York Blvd, 0.15 km, 15 closed leases) realized $2,703 per month at $4.13 per square foot over 659 square feet; Neptune 2 at Water Park City (209 Fort York Blvd, 0.17 km, 11 closed leases) closed at $2,260 per month, $3.97 per square foot, and 558 square feet; and West Harbour City I (628 Fleet Street / 99 Sloping Sky Mews, 0.26 km, 13 closed leases) transacted at $3,185 per month, $3.89 per square foot, and 838 square feet. All four competitors recorded active lease volume, so each provides a realized pricing benchmark rather than a zero-transaction architectural reference.

Water Park City I leases at $4.13 per square foot across an average 701-square-foot suite, placing it at parity with Neptune 1 and a modest premium over the comp average of $4.08 per square foot while offering the largest interior footprint in the group. Against Atlantis & Aquarius, the subject trades at a $0.20 per square foot (4.6%) discount while providing 102 more interior square feet, meaning the $299-per-month higher nominal rent is entirely a function of the larger footprint rather than a per-unit valuation premium. Neptune 1 shows identical $4.13 per square foot parity, with the subject delivering 42 additional square feet and a $119-per-month higher rent that reflects that extra space. Neptune 2 presents the sharpest contrast: the subject commands a $0.16 per square foot (4.0%) premium and provides 143 more square feet, yet still realizes $562 more per month, confirming that the larger suite mix drives the nominal gap. West Harbour City I is the inverse case—the subject trades at a $0.24 per square foot (6.2%) premium but provides 137 fewer interior square feet, so the $363-per-month lower nominal rent is a direct consequence of the smaller footprint, not a discount in asset valuation.

Water Park City I offers a 14-feature lifestyle package that is materially broader than its three Fort York neighbours and comparable to West Harbour City I, with the Spin Studio as its sole signature amenity absent from all four competitors. The subject's indoor pool, hot tub, sauna and steam room, yoga studio, gym, rooftop terrace, party lounge, games room, meeting room, media theatre, BBQ area, garden courtyard, concierge and security, and massage room collectively match or exceed the Neptune 1 and Neptune 2 offerings, which lack a dedicated massage room. West Harbour City I differentiates with a dining room and kitchen that the subject does not carry, while the subject's Spin Studio gives it a cycling-and-cardio edge no nearby peer replicates. This amenity mix—anchored by aquatic wellness, dedicated fitness studios, and remote-work-ready meeting space—best serves professionals aged 28 to 45 who want a full-service, resort-adjacent lifestyle without stepping outside the CityPlace / Fort York neighbourhood.