SkyCity - Tower One — Rental Market Data

SkyCity – Tower One's average realized lease rent of $2,838 per month runs $380 above the four-comparable benchmark of $2,458, with the subject commanding higher rents than every active peer in the cluster. SkyCity – Tower Two at 65 Oneida Crescent (0.09 km, 7 closed leases) averaged $2,707 per month at $3.46 per square foot across 800 square feet, placing the subject $131 higher per lease. Premier at 39 Oneida Crescent (0.12 km, 5 closed leases) averaged $2,160 per month at $3.68 per square foot across 590 square feet, a gap of $678 in the subject's favour. Park Glen I at 23 Oneida Crescent (0.17 km, 8 closed leases) averaged $2,459 per month at $3.29 per square foot across 750 square feet, with the subject $379 higher. Park Glen II at 11 Oneida Crescent (0.18 km, 8 closed leases) averaged $2,506 per month at $3.39 per square foot across 763 square feet, a $332 spread favouring the subject. All four competitors recorded active lease transactions over the trailing 180 days, so each provides a realized rent benchmark rather than a zero-volume reference.

SkyCity – Tower One leases at $3.50 per square foot across an average 820-square-foot suite, a combination that sits above the comp-set average of $3.46 per square foot and 726 square feet while delivering the largest interior footprint in the cluster. Against SkyCity – Tower Two, the subject commands a $0.04 per-square-foot (1.2%) premium and provides 20 more interior square feet, so the higher monthly rent reflects both a rate advantage and a slightly larger unit. Against Premier, the subject trades at a $0.18 per-square-foot (4.9%) discount while providing 230 more interior square feet; the $678 higher nominal rent is driven entirely by the substantially larger footprint rather than a per-square-foot valuation premium, making Tower One the more space-efficient choice for renters prioritizing interior area. Against Park Glen I, the subject commands a $0.21 per-square-foot (6.4%) premium and provides 70 more square feet, and against Park Glen II it commands a $0.11 per-square-foot (3.2%) premium with 57 additional square feet. In each of those two comparisons the subject is both larger and more expensive per square foot, so the rent differential reflects a genuine rate premium layered on top of extra space rather than a footprint-driven illusion.

SkyCity – Tower One offers a 13-item amenity suite that includes a sauna and steam room, an indoor pool, a dedicated yoga studio, a dining room with full kitchen, and a BBQ area—features that collectively set it apart from every nearby competitor. Tower Two at 65 Oneida Crescent shares the indoor pool, gym, and rooftop terrace but lacks the sauna and steam room, the dedicated dining room and kitchen, and the BBQ area that Tower One provides. Premier at 39 Oneida Crescent offers a library and reading room absent from Tower One but does not include a yoga studio, sauna and steam room, BBQ area, or dining room and kitchen. Park Glen I and Park Glen II each feature a car wash bay and business or recreation space that Tower One does not carry, yet neither building provides an indoor pool, sauna and steam room, yoga studio, BBQ area, or dining room and kitchen. The subject's aquatic-and-wellness cluster (indoor pool, sauna, steam room, yoga studio) combined with its social-dining infrastructure (dining room, kitchen, BBQ area, party lounge) targets professionals and small households in Richmond Hill who want resort-style recreation and in-building entertaining without leaving the property, a lifestyle package no single competitor in the Oneida Crescent corridor replicates in full.