Royal Gardens - I — Rental Market Data

Royal Gardens – I lists four active units as of August 31, 2026, with asking rents ranging from $2,150 to $2,680 per month, an average of $2,383 and a median of $2,350. The average active suite spans 650 square feet at $3.68 per square foot, and the dominant layout is the 1-Bedroom + Den, accounting for 50 percent of available inventory. Current listings skew toward compact entry-level and mid-size suites rather than multi-bedroom executive configurations, with only one two-bedroom unit on the market.

The 1-Bedroom + Den layout leads active inventory at Royal Gardens – I with two units representing 50 percent of available space, averaging $2,350 per month across 650 square feet at $3.62 per square foot. The 1-Bedroom tier holds one listing at 25 percent share, asking $2,150 per month for 550 square feet at $3.91 per square foot, while the 2-Bedroom tier also carries a single unit at 25 percent, listed at $2,680 per month for 750 square feet at $3.57 per square foot. Each bedroom tier beyond the den option reflects a single-listing sample, so renters should treat those price points as individual transactions rather than market averages.

Royal Gardens – I spans a $530 asking-rent spread from a $2,150 entry point to a $2,680 peak, a 24.7 percent range across its four active listings. The median asking rent sits at $2,350 per month. The entry-level suite is a 1-Bedroom of 550 square feet priced at $3.91 per square foot, while the peak offering is a 2-Bedroom of 750 square feet at $3.57 per square foot, meaning the larger unit commands a higher absolute rent but a lower rate per area.

At Royal Gardens – I, the active den premium is quantified at $200 per month for an additional 100 square feet of den space, equating to a marginal cost of $2.00 per square foot for the extra room. Active parking stall premiums cannot be reliably isolated from the current dataset due to an insufficient paired sample, so no specific monthly parking figure can be quoted with confidence.

Royal Gardens – I asks an average of $2,383 per month at $3.68 per square foot, compared to the Richmond Hill submarket asking benchmark of $2,800 per month and $3.82 per square foot, placing the building 3.7 percent below the submarket on a rate-per-area basis. The nominal rent gap of roughly $417 per month is largely explained by the building's more compact 650-square-foot average suite versus the broader submarket mix. Royal Gardens – I represents four out of 94 active listings in the Richmond Hill submarket, or approximately 4.3 percent of total available inventory.

Royal Gardens - I's all-time average realized lease rent of $2,457 per month sits $27 below the four-comp benchmark of $2,484, with the two Royal Gardens - II towers and the two Valleymede Towers buildings anchoring the immediate competitive set. Royal Gardens - II (Crown Building) at 372 Highway 7 E, 0.12 km away, closed 15 leases at an average of $2,289 per month, $3.64 per square foot, and 635 square feet; Royal Gardens - I's realized rent runs $168 higher than that figure. Royal Gardens - II (Palace Building) at 376 Highway 7 E, 0.13 km away, closed 6 leases at $2,308 per month, $3.92 per square foot, and 608 square feet, with the subject again $149 higher. Valleymede Towers - Building A at 396 Highway 7 E, 0.17 km away, closed 9 leases at $2,622 per month, $3.52 per square foot, and 758 square feet—$165 above the subject's realized rent. Valleymede Towers - Building B at 398 Highway 7 E, 0.24 km away, closed 9 leases at $2,717 per month, $3.44 per square foot, and 794 square feet, placing the subject $260 below that competitor. All four comparables recorded active lease transactions over the trailing 180 days, so every figure above reflects realized pricing rather than asking-only data.

Royal Gardens - I leases at $3.58 per square foot across an average 704-square-foot suite, positioning it at a slight rate discount to the four-comp average of $3.63 per square foot while offering marginally more interior space than the 699-square-foot comp mean. Against Royal Gardens - II (Crown Building), the subject trades at a $0.06 per square foot (1.6%) discount while providing 69 more interior square feet; the $168 higher nominal rent is driven entirely by that larger footprint rather than a rate premium. The same dynamic holds against Royal Gardens - II (Palace Building), where the subject offers a $0.34 per square foot (8.7%) discount and 96 additional square feet, yet still realizes $149 more per month because the extra area outweighs the lower per-foot rate. In contrast, Valleymede Towers - Building A commands a $0.06 per square foot (1.7%) premium over the subject while delivering 54 fewer square feet, meaning the subject's $165 lower monthly rent reflects its smaller interior footprint rather than a weaker asset valuation. Valleymede Towers - Building B widens that gap: the subject carries a $0.14 per square foot (4.1%) premium yet provides 90 fewer square feet, so the $260 lower nominal rent is a direct function of the reduced suite size. In every pairing, the rent differential tracks the square-footage delta, confirming that rate per square foot—not unit size—drives the value equation in this micro-market.

Royal Gardens - I fields a nine-item amenity package centred on aquatic wellness and social gathering, distinguishing it from both its 2014 sister towers and the 2020 Valleymede pair. The subject's Indoor Pool, Hot Tub & Jacuzzi, and Sauna & Steam Room form a full aquatic-wellness cluster that Valleymede Towers - Building A and Building B (396 and 398 Highway 7 E) do not offer; those two towers instead emphasise remote-work infrastructure with a Business Centre, Library & Reading Room, and Yoga Studio. Royal Gardens - I also includes a Media & Theatre Room and Rooftop Terrace absent from both Valleymede buildings, while the Crown Building (372 Highway 7 E) adds a Golf Simulator, Meeting Room, and Garden & Courtyard that the subject does not carry. The Palace Building (376 Highway 7 E) similarly offers a Golf Simulator and Meeting Room not found at the subject. The lifestyle package here—indoor pool, hot tub, sauna, media room, rooftop terrace, and party lounge—serves tenants who prioritise on-site recreation, social hosting, and wellness over the business-centre and co-working features that define the Valleymede product, making Royal Gardens - I the natural fit for professionals and couples seeking a resort-style residential experience within walking distance of Highway 7 East transit.