Solstice Condominiums — Rental Market Data

Solstice Condominiums realized an average lease rent of $2,498 per month over the trailing year, sitting $90 below the four-comp benchmark of $2,588 and $24 below the broader Mississauga City Centre submarket average of $2,522. Ovation at City Centre I (3880 Duke of York Blvd, 0.04 km) closed 19 leases at an average of $2,576 per month ($3.17 per square foot, 837 sq ft), placing the subject $78 lower in nominal rent. The Odyssey (250 Webb Dr, 0.07 km) recorded 7 closed leases averaging $2,761 per month ($2.72 per square foot, 1,029 sq ft), meaning Solstice trades $263 below that mark. ONYX Condominiums & Lofts (223 Webb Dr, 0.07 km) closed 16 leases at $2,414 per month ($3.38 per square foot, 723 sq ft), so the subject commands $84 more in absolute rent. Citygate I (3939 Duke of York Blvd, 0.08 km) posted 5 closed leases at $2,600 per month ($3.20 per square foot, 826 sq ft), leaving Solstice $102 below that figure. All four competitors generated realized lease data; none recorded zero transactions in the 180-day window.

Solstice Condominiums leases at $3.22 per square foot across an average 784-square-foot suite, a rate that sits above the comp average of $3.12 per square foot but below the submarket leased benchmark of $3.55 per square foot, while its footprint is roughly 70 square feet smaller than the peer mean of 854. Against Ovation at City Centre I, the subject trades at a $0.05 per square foot (1.6 percent) premium yet provides 53 fewer interior square feet, so the $78 lower nominal rent reflects the tighter footprint rather than a weaker rate. The Odyssey presents the sharpest contrast: Solstice commands a $0.50 per square foot (18.4 percent) premium over that 1990-era building while delivering 245 fewer square feet, meaning the $263 rent gap is entirely a function of the Odyssey's 1,029-square-foot suites rather than any discount in Solstice's per-unit valuation. ONYX Condominiums & Lofts is the one comp where the subject trades at a $0.16 per square foot (4.7 percent) discount, yet Solstice provides 61 more interior square feet—here the $84 higher absolute rent is driven by the larger footprint, not a rate premium. Citygate I shows the tightest spread, with Solstice at a marginal $0.02 per square foot (0.6 percent) premium and 42 fewer square feet, producing a $102 lower nominal rent that again traces back to suite size.

Solstice Condominiums fields an 18-item amenity suite that includes both an indoor and outdoor pool, a squash and racquetball court, massage treatment rooms, and an indoor kids' play room—features that collectively set it apart from every nearby competitor. The outdoor pool is unique in this cluster; Ovation at City Centre I, The Odyssey, ONYX Condominiums & Lofts, and Citygate I each offer only an indoor pool. Massage treatment rooms appear nowhere in the peer set, and the dedicated indoor kids' play room distinguishes Solstice from Citygate I's outdoor children's playground and the other three buildings, none of which list a children's facility at all. In the other direction, Ovation at City Centre I offers a golf simulator, bowling alley, winter garden room, and rooftop terrace that Solstice does not, while ONYX and Citygate I each include a rooftop terrace and car wash bay absent from the subject. The Odyssey adds a tennis and pickleball court not found at Solstice. The lifestyle package here—dual aquatic facilities, racquet sports, on-site massage, and a purpose-built indoor play space—serves families and wellness-oriented professionals who want resort-style recreation steps from their unit without the single-sport or rooftop-terrace focus of its immediate neighbours.