Ellipse I — Rental Market Data

Ellipse I holds three active listings as of August 31, 2026, with asking rents ranging from $2,100 to $2,230 per month, an average of $2,143 and a median of $2,100. Average suite size across active inventory is 650 square feet at an asking rate of $3.30 per square foot. The dominant layout is the one-bedroom-plus-den at 66.7 percent of active inventory, indicating that current availability leans toward compact entry-level suites rather than multi-bedroom executive configurations.

The one-bedroom-plus-den leads Ellipse I's active inventory with two units representing 66.7 percent of available listings, averaging $2,100 per month across 650 square feet at $3.23 per square foot. The two-bedroom tier holds a single listing at 33.3 percent share, asking $2,230 per month for 650 square feet at $3.43 per square foot. No zero-bedroom or three-bedroom-plus units are currently on the market.

Ellipse I's active asking rents span from a minimum of $2,100 to a peak of $2,230 per month, a dollar spread of $130 and a percentage spread of 6.2 percent. The median asking rent sits at $2,100 per month, anchored by the entry-level one-bedroom-plus-den suite at 650 square feet and $3.23 per square foot. The peak listing is a two-bedroom unit also at 650 square feet but commanding $3.43 per square foot, reflecting the premium for an additional bedroom within the same footprint.

Ellipse I's active den premium and square-footage delta cannot be reliably quantified from the current three-unit sample, so no marginal cost per square foot for extra den space can be stated with confidence. Parking stall premiums also cannot be reliably isolated from current listings due to insufficient paired data, and historical lease records do not provide a verified parking benchmark. Renters should request individual parking quotes directly from the leasing office.

Ellipse I's active asking rent of $2,143 per month and $3.30 per square foot compare favorably against the Scarborough City Centre submarket asking benchmarks of $2,495 per month and $3.34 per square foot. The building's nominal rent is $352 per month below the submarket average, a gap partly explained by its 650-square-foot average suite size versus the broader market mix, while the per-square-foot rate runs 1.2 percent below the submarket asking norm. Ellipse I accounts for three of the 74 active listings in the Scarborough City Centre submarket, representing roughly 4 percent of total neighborhood availability.

Ellipse I's average closed lease rent of $2,241 per month sits $203 below the four-comp average of $2,444, making it the most competitively priced option in the Lee Centre Dr cluster on a headline-dollar basis. Ellipse II at 38 Lee Centre Dr (0.07 km) closed leases averaging $2,283 at $3.30 per square foot across 708 square feet; Hillsborough Court II at 8 Lee Centre Dr (0.12 km) averaged $2,483 at $3.10 per square foot over 826 square feet; Hillsborough Court I at 18 Lee Centre Dr (0.14 km) recorded $2,421 at $3.11 per square foot across 800 square feet; and May Tower at 1 Lee Centre Dr (0.16 km) posted the highest average at $2,588, though spread over 875 square feet at just $2.96 per square foot.

Ellipse I leases at $3.30 per square foot on an average 691-square-foot suite, a rate that commands a premium over Hillsborough Court I ($3.11/SF), Hillsborough Court II ($3.10/SF), and May Tower ($2.96/SF) while matching its twin Ellipse II exactly. Tenants accepting the subject's smaller footprint—17 square feet less than Ellipse II, 109 fewer than Hillsborough Court I, 135 fewer than Hillsborough Court II, and 184 fewer than May Tower—gain a 2004-built building with a rooftop terrace and dedicated media theatre room in exchange for giving up the squash courts, tennis and pickleball courts, badminton courts, and children's play spaces found across the 1997-to-1999 cohort. For a renter prioritizing a compact, amenity-dense urban suite over maximum interior square footage, Ellipse I's per-square-foot premium buys roughly seven years of newer construction and a lifestyle amenity set the older towers cannot match.

Ellipse I's amenity profile leans toward social and entertainment features that distinguish it from the sport-and-family-oriented packages at its three older neighbours. The building's rooftop terrace is absent from all four comparables, giving residents an outdoor gathering space none of the Lee Centre Dr peers can replicate. Its dedicated media and theatre room is shared only with Ellipse II; Hillsborough Court I, Hillsborough Court II, and May Tower offer no equivalent screening space. Where the 1997-to-1999 towers provide squash and racquetball courts (Hillsborough Court I and II), a tennis and pickleball court (Hillsborough Court I), badminton courts (both Hillsborough buildings), a basketball court (May Tower), and indoor or outdoor children's play areas, Ellipse I substitutes a games and billiards room, library and reading room, and the aforementioned rooftop terrace. This package best serves young professionals and small couples who value a social, entertainment-forward lifestyle over dedicated sports courts and family-oriented play facilities.