Brightwater II — Rental Market Data

Brightwater II carries five active listings as of August 31, 2026, with asking rents ranging from $2,750 to $3,400 per month, an average of $3,010 and a median of $2,800. The average suite measures 726 square feet at an asking rate of $4.17 per square foot, and the inventory is dominated by two-bedroom layouts representing 80 percent of available units. The mix leans toward compact entry-level two-bedroom suites rather than multi-bedroom executive configurations, with only a single den-equipped unit in the current pool.

The dominant active layout at Brightwater II is the two-bedroom, accounting for four of five listings and an 80 percent inventory share. Two-bedroom units average $2,938 per month across 695 square feet at $4.24 per square foot, while the lone two-bedroom-plus-den listing asks $3,300 per month for 850 square feet at $3.88 per square foot. No one-bedroom or three-bedroom tiers currently have active availability.

Brightwater II's active asking rents span from a minimum of $2,750 to a peak of $3,400 per month, a dollar spread of $650 and a percentage spread of 23.6 percent. The median asking rent sits at $2,800 per month. The entry-level suite is a two-bedroom at 650 square feet priced at $4.23 per square foot, while the peak listing is a two-bedroom-plus-den at 850 square feet priced at $4.00 per square foot, meaning the higher absolute rent is offset by a lower per-square-foot rate on the larger unit.

Brightwater II's active den premium and associated square-footage delta cannot be reliably quantified from the current paired sample, as only one den-equipped unit is listed alongside four standard two-bedrooms. Marginal cost per square foot for the additional den space therefore remains unverified. Parking stall premiums also cannot be reliably isolated from current listings due to insufficient paired data, and no verified historical parking benchmark exists in the lease record.

Brightwater II's average asking rent of $3,010 per month exceeds the Mississauga South submarket asking benchmark of $2,827, yet its rate of $4.17 per square foot sits 7.9 percent below the submarket asking rate of $4.53 per square foot. The higher nominal monthly outlay is driven by larger average suite sizing at 726 square feet rather than a premium per-square-foot price, making the building comparatively competitive on a rate basis. Brightwater II represents five of the 25 active listings in the Mississauga South submarket, or 20 percent of total available inventory.

Brightwater II's average closed-lease rent of $2,645 per month sits $315 below the four-comparable average of $2,960, driven largely by the outlier premium at 75 South Maple Avenue South. The Mason at Brightwater (251 Masonry Way) closed leases at an average of $2,617 per month, $3.90 per square foot for 682 square feet, just $28 under the subject. Brightwater I (215 Lakeshore Rd W) averaged $2,388 per month at $3.88 per square foot for 617 square feet, a $257 discount to Brightwater II. At 75 South Maple Avenue South, the single closed lease hit $3,875 per month at $4.08 per square foot for 950 square feet, well above the subject on both rent and size. The Sheridan Manor (345 Lakeshore Road W) recorded no closed leases in the trailing 180 days, so no direct rent benchmark is available from that property.

Brightwater II leases at $4.06 per square foot for an average 666-square-foot suite, a rate that sits above The Mason at Brightwater ($3.90/sq ft, 682 sq ft) and Brightwater I ($3.88/sq ft, 617 sq ft) but marginally below 75 South Maple Avenue South ($4.08/sq ft, 950 sq ft). Against The Mason, Brightwater II commands a $0.16 per square foot premium (4.1%) while offering 16 fewer square feet of interior space, meaning tenants pay slightly more per unit of area for a comparable floor plate. Versus Brightwater I, the subject trades at a $0.18 per square foot premium (4.6%) but delivers 49 additional square feet, giving renters more living area for a modest rate increase. Compared with the 950-square-foot townhouse units at 75 South Maple Avenue South, Brightwater II actually offers a $0.02 per square foot discount, though at 284 fewer square feet, so the total monthly outlay is considerably lower. The net effect is that Brightwater II positions itself as a mid-premium, smaller-footprint option in a micro-market where larger legacy stock commands higher absolute rents.

Brightwater II's amenity package is the most resort-oriented in its immediate cluster, featuring an open-air swim spa, sauna and steam room, rooftop terrace, dedicated business centre, and pet wash station—several of which have no direct counterpart at nearby competitors. The Mason at Brightwater offers a garden and courtyard in place of a rooftop terrace and lacks both the swim spa and the sauna/steam room entirely. At 75 South Maple Avenue South, the only listed amenity is a BBQ area, leaving tenants without fitness, business, or wellness facilities. The Sheridan Manor, built in 1959, provides concierge and security plus a shared laundry room but no gym, pool, or business space. Brightwater II's combination of an open-air swim spa, sauna and steam room, rooftop terrace, full business centre, and on-site pet wash station creates a lifestyle package aimed squarely at young professionals and active-lifestyle renters in their late twenties to mid-thirties who want hotel-calibre amenities without the commitment of ownership.