The Crossways - Phase 1 — Rental Market Data

The Crossways – Phase 1 realized an all-time average lease rent of $1,671 per month, which is $711 below the four-building comp-set average of $2,382 and $628 below the Junction submarket average of $2,299. The Crossways – Phase 2 (2350 Dundas Street W, 0.03 km, built in 1974) closed four leases at an average of $1,962 per month, $3.02 per square foot, and 650 square feet; The Address at High Park (1638 Bloor St W, 0.39 km, built in 2013) closed three leases at $3,033 per month, $3.55 per square foot, and 853 square feet; and Glenlake (2495 Dundas St W, 0.39 km, built in 2005) closed three leases at $2,150 per month, $3.71 per square foot, and 583 square feet. Wallace Station Lofts (371 Wallace Ave, 0.38 km, built in 2007) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark for direct comparison.

The Crossways – Phase 1 trades at $3.51 per square foot across a 490-square-foot average suite, a rate that sits above the comp-set average of $3.43 per square foot but below the Junction submarket lease benchmark of $3.71 per square foot, while its interior footprint is the smallest in the immediate peer group. Against The Crossways – Phase 2, the subject commands a $0.49 per square foot (16.2%) premium yet provides 160 fewer interior square feet, meaning the higher monthly rent of $291 over Phase 2 is partly a function of the tighter per-square-foot pricing rather than a pure asset-valuation gap. Versus The Address at High Park, the subject trades at a $0.04 per square foot (1.1%) discount and delivers 363 fewer interior square feet, so the $1,362-per-month rent advantage the subject holds over that comp is overwhelmingly a footprint effect: tenants are paying less total because the unit is substantially smaller, not because the building is undervalued per unit of space. The same logic applies to Glenlake, where the subject offers a $0.20 per square foot (5.4%) discount and 93 fewer interior square feet, producing a $479-per-month lower nominal rent that reflects the compact suite size rather than a weaker per-square-foot position.

The Crossways – Phase 1 differentiates itself in this cluster through an aquatic and wellness amenity package—indoor pool, hot tub and jacuzzi, plus an on-site shopping plaza—that no other nearby competitor replicates. The Crossways – Phase 2 shares the pool and hot tub but lacks the shopping plaza; Wallace Station Lofts, The Address at High Park, and Glenlake all centre their lifestyle offerings around gym-and-fitness, meeting-room, and party-lounge configurations with zero aquatic facilities. The subject's rooftop terrace and concierge-and-security layer are common across the peer set, so the genuine differentiator is the combination of in-building swimming, spa, and ground-floor retail convenience in a single 1977-built, 1,100-suite building. This package best serves cost-conscious professionals and small households in the Junction who prioritize low monthly rent, a compact one-bedroom footprint (the dominant leased layout at 60% of volume), and the convenience of on-site swimming and shopping without the premium attached to the newer, gym-heavy towers a few blocks away.