The Phoenix — Rental Market Data

The Phoenix at 550 Webb Dr has one active listing as of August 31, 2026, with a single asking rent of $1,300 per month serving as both the minimum, maximum, average, and median. The available suite spans 1,100 square feet at an asking rate of $1.18 per square foot. This lone unit is a 1-Bedroom + Den configuration representing 100 percent of current inventory, placing the building's active availability squarely in the compact entry-level category with no multi-bedroom executive layouts on the market.

The dominant and sole active layout at The Phoenix is the 1-Bedroom + Den, with one unit representing 100 percent of available inventory. That single listing asks $1,300 per month for 1,100 square feet at $1.18 per square foot. No other bedroom tiers—studio, two-bedroom, or three-bedroom—currently have active listings, meaning renters seeking alternative configurations must look outside this building.

The Phoenix has one active listing at 550 Webb Dr, so the minimum entry rent and peak asking rent are identical at $1,300 per month, producing a dollar spread of $0 and a percentage spread of 0 percent. The median asking rent is likewise $1,300 per month. The entry-level suite is a 1-Bedroom + Den at 1,100 square feet and $1.18 per square foot, and because this is the only listing, it simultaneously serves as both the floor and ceiling of the active price range.

The Phoenix does not have a quantified den premium or square footage delta for its active 1-Bedroom + Den listing, as the single-unit sample does not support a reliable marginal cost calculation for the den component. Parking stall costs cannot be reliably isolated from current listings due to insufficient paired data, and historical lease records also lack a verified parking premium benchmark. Prospective renters should request a direct parking quote from the leasing office rather than relying on market-derived figures.

The Phoenix's active asking rent of $1,300 per month at $1.18 per square foot compares to the Mississauga City Centre submarket asking benchmark of $2,771 per month at 3.64 per square foot. The building's rate per square foot is 67.6 percent below the submarket asking average, a gap driven by both the compact 1,100-square-foot suite footprint and an asking price well under prevailing market levels. The Phoenix represents a single unit out of 242 active listings across the submarket, or roughly 0.4 percent of total available inventory in Mississauga City Centre.

The Phoenix's average realized lease rent of $2,890 per month runs $306 (11.8%) above the four-comp blended benchmark of $2,584, a gap driven entirely by its larger suite footprint rather than a higher per-square-foot rate. Grand Park 2 at 3975 Grand Park Dr, 0.14 km away, closed 36 leases at an average of $2,704 per month ($3.45 per square foot across 822 square feet). Grand Park at 3985 Grand Park Dr, 0.21 km out, recorded 19 closed leases averaging $2,701 per month ($3.18 per square foot over 877 square feet). M City 3 Condominium at 448 Burnhamthorpe Road, 0.24 km distant, posted the highest volume at 113 closed leases with an average rent of $2,457 per month ($3.71 per square foot on 673 square feet). M2 – M City 2 at 3883 Quartz Rd, 0.29 km away, closed 77 leases at $2,475 per month ($3.84 per square foot across 677 square feet). All four competitors posted realized rent benchmarks; none recorded zero transactions in the trailing period.

The Phoenix leases at $2.57 per square foot, a discount of $0.98 (27.6%) below the comp-set average of $3.55 per square foot, while delivering 368 more square feet than the 762-square-foot comp average. Against Grand Park 2, the subject trades at a $0.88 per square foot (25.5%) discount and provides 308 more interior square feet than that competitor's 822-square-foot average. Versus Grand Park, the Phoenix offers a $0.61 per square foot (19.2%) lower rate and 253 additional square feet over the comp's 877-square-foot average. The spread widens against the M City pair: the subject sits $1.14 per square foot (30.7%) below M City 3's $3.71 rate with 457 more square feet than its 673-square-foot average, and $1.27 per square foot (33.1%) below M2 – M City 2's $3.84 rate with 453 more square feet than its 677-square-foot average. In every case the higher nominal rent at the Phoenix is a function of its substantially larger interior footprint, not a more expensive unit price.

The Phoenix pairs a full-service amenity suite with three features—dedicated tennis and pickleball courts, a squash and racquetball court, and a library and reading room—that no nearby competitor in this immediate cluster offers. Grand Park 2 and Grand Park both provide yoga studios, indoor pools, meeting rooms, and business centres, but neither includes any court-sport or dedicated reading facility. M City 3 Condominium and M2 – M City 2 lean toward family-oriented programming with children's playgrounds, kids' play rooms, pet wash stations, and splash pads, yet still lack the racquet-sport courts and library space found at the Phoenix. The subject's outdoor pool, hot tub, sauna and steam room, rooftop terrace, and games room overlap with most competitors, but the combination of competitive court sports and a quiet reading environment distinguishes it for tenants who value active recreation and focused workspace in a single building—most naturally serving professionals and active adults in their 30s to 50s who want a larger suite, on-site fitness variety, and a low-key social setting without the family-centric programming of the newer M City towers.