Waterworks — Rental Market Data

Waterworks has one active listing as of August 31, 2026, asking $4,100 per month with minimum, maximum, average, and median rents all identical. The suite spans 750 square feet at $5.47 per square foot. The 100% layout share belongs to a two-bedroom unit, placing the building's current availability squarely in the multi-bedroom tier rather than compact entry-level one-bedrooms or studios.

The sole active listing is a two-bedroom unit representing 100% of available inventory at Waterworks. That single 750-square-foot suite asks $4,100 per month at $5.47 per square foot. No one-bedroom, studio, or three-bedroom units are currently on the market, leaving renters without cross-tier comparison within this building.

Waterworks' single active listing sets both the minimum and maximum asking rent at $4,100 per month, producing a zero-dollar and zero-percent internal spread. The entry-level and peak suite are the same two-bedroom, 750-square-foot unit priced at $5.47 per square foot. With only one unit listed, no internal price gradient exists to benchmark against.

Den premium and square-footage delta for Waterworks cannot be quantified from the current active sample of a single listing. Parking stall costs also cannot be reliably isolated due to insufficient paired data in the tracking period. Renters should request direct quotes from the leasing office for both add-ons before finalizing a lease.

Waterworks' active asking rent of $4,100 per month and $5.47 per square foot both exceed the Downtown West submarket averages of $3,080 per month and $4.81 per square foot. The 13.7% rate-per-square-foot premium reflects the building's positioning above the broader market, even though the 750-square-foot active footprint is more compact than the historical lease average of 787 square feet. Waterworks represents one out of 170 active listings in the Downtown West submarket.

Waterworks' average realized lease rent of $5,435 per month sits $2,194 above the four-comp benchmark of $3,241 per month, placing it at a clear premium over every active nearby competitor. Rush at 2 Augusta Ave (0.04 km) closed 13 leases averaging $3,015 per month at $4.16 per square foot across 744 square feet, meaning Waterworks commands $2,420 more per month than this closest active peer. Cityscape Terrace at 500 Richmond St W (0.07 km) recorded 3 closed leases at $4,233 per month, $5.75 per square foot, and 883 square feet, with Waterworks trading $1,202 higher on a monthly basis. The Sylvia at 50 Camden St (0.08 km) closed 2 leases averaging $2,475 per month at $3.98 per square foot over 625 square feet, and Waterworks realizes $2,960 more per month than that reference. 533 Richmond St W (0.12 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark against which to compare.

Waterworks leases at $7.21 per square foot across an average 787-square-foot suite, a rate that exceeds every active competitor in this immediate pocket and the four-comp average of $4.63 per square foot. Against Rush (0.04 km), the subject trades at a $3.05 per square foot premium (73.3 percent higher) while providing 43 more interior square feet, so the higher monthly rent of $2,420 is driven by both a steeper per-foot rate and a slightly larger footprint rather than a pure valuation gap. Cityscape Terrace (0.07 km) presents the sharpest trade-off: Waterworks commands a $1.46 per square foot premium (25.4 percent higher) yet provides 96 fewer interior square feet, meaning the $1,202 monthly premium is entirely rate-driven on a smaller floor plate. The Sylvia (0.08 km) shows the widest spread, with Waterworks at a $3.23 per square foot premium (81.2 percent higher) and 162 more square feet, producing a $2,960 monthly differential that reflects both a larger unit and a materially higher per-foot rate. 533 Richmond St W (0.12 km) recorded zero lease transactions over the past 180 days and serves only as an architectural reference with no active pricing data.

Waterworks offers a nine-item lifestyle package anchored by an on-site YMCA, a European-style food hall, a dedicated meeting room, and a concierge-and-security operation, distinguishing it from every nearby peer. Rush (0.04 km) counters with an indoor rock-climbing wall, a pet wash station, and a yoga studio that Waterworks does not carry, while Waterworks' on-site YMCA, European-style food hall, and meeting room are absent from Rush's programming. Cityscape Terrace (0.07 km) provides only concierge security and a rooftop terrace, making Waterworks' gym, dining room, party lounge, BBQ area, and food hall a substantially broader offering. The Sylvia (0.08 km) includes a garden courtyard that Waterworks lacks, but Waterworks' YMCA, food hall, and dining room-and-kitchen combination go beyond The Sylvia's more conventional amenity set. 533 Richmond St W (0.12 km) offers concierge security only and recorded zero lease transactions, so it provides no meaningful lifestyle comparison. The building's package—particularly the YMCA fitness integration, food-hall dining, and meeting-room infrastructure—best serves young professionals and small households who want a full-service residential experience with on-site wellness, social dining, and remote-work facilities without maintaining a separate gym membership or co-working subscription.