The Summit I — Rental Market Data

The Summit I at 701 King St W carries exactly one active listing as of August 31, 2026, priced at $1,899 per month with a minimum, maximum, average, and median all converging on that single figure. The suite spans 550 square feet at an asking rate of $3.45 per square foot, and the 100 percent layout share is a one-bedroom unit. With only one listing on the books, current inventory leans entirely toward a compact entry-level suite rather than offering multi-bedroom or executive alternatives.

The sole active layout at The Summit I is a one-bedroom unit, representing 100 percent of available inventory with a single listing in the sample. That unit asks $1,899 per month across 550 square feet, translating to $3.45 per square foot, and no other bedroom tier—studio, two-bedroom, or three-bedroom—currently holds an active listing. Renters interested in alternative layouts at this address must wait for new inventory to hit the market.

The Summit I's active pricing spread is $0, with both the minimum and peak asking rent set at $1,899 per month and a 0 percent range, reflecting the single-listing inventory. The median asking rent is likewise $1,899. The entry-level suite is a one-bedroom at 550 square feet and $3.45 per square foot, and because no larger or higher-priced unit is currently listed, the peak suite is identical to the entry point.

The Summit I's active den premium and square-footage delta are unquantified, as no paired den versus non-den listings exist in the current active inventory to isolate a marginal cost per square foot for additional den space. Active parking stall premiums also cannot be reliably isolated from the available data, and no verified dollar figure per month can be quoted for a parking spot at this building.

The Summit I's active asking rent of $1,899 per month and $3.45 per square foot sit well below the Downtown West submarket asking benchmarks of $3,080 per month and $4.81 per square foot, a 28.3 percent discount on the rate-per-square-foot basis. The nominal rent gap of roughly $1,181 per month is largely explained by the active suite's 550-square-foot footprint, which is more compact than the submarket's typical lease size, so the per-square-foot comparison is the more meaningful metric. The Summit I accounts for 1 out of 170 available listings in the Downtown West submarket, representing a 0.6 percent share of total active inventory.

The Summit I's average realized lease rent of $2,232 per month sits $882 below the overall comp benchmark of $3,114, with the nearest active competitor being The Summit III at $2,425 per month. The Summit II (705 King St W, 0.02 km) closed 4 leases at an average of $3,083 per month, $3.67 per square foot, and 788 square feet. The Westside (700 King St W, 0.07 km) recorded 5 closed leases averaging $3,255 per month, $3.37 per square foot, and 970 square feet. The Summit III (725 King St W, 0.07 km) logged 2 closed leases at $2,425 per month, $3.68 per square foot, and 660 square feet. West House (88 Bathurst Street, 0.09 km) closed 11 leases at $3,692 per month, $5.33 per square foot, and 687 square feet. All four competitors posted active lease transactions over the trailing 180 days, so each provides a realized rent benchmark rather than a listing-only reference.

The Summit I leases at $3.29 per square foot across 693 average square feet, trading at a discount below every active nearby competitor on a per-square-foot basis while offering a mid-range interior footprint. Against The Summit II, the subject trades at a $0.38 per square foot (10.4%) discount and provides 95 fewer interior square feet, meaning the lower nominal rent of $851 per month is partly a function of the smaller suite size rather than a pure rate concession. The Westside presents a steeper footprint gap: the subject offers 277 fewer square feet at a $0.08 per square foot (2.4%) discount, so the $1,023 monthly savings is overwhelmingly driven by the larger interior area in The Westside's 970-square-foot suites. The Summit III flips the size equation—the subject provides 33 more square feet yet still trades at a $0.39 per square foot (10.6%) discount, yielding a $193 monthly saving that is purely rate-driven. West House, the newest and most expensive comp, charges $5.33 per square foot; the subject's $2.04 per square foot (38.3%) discount and 6 additional square feet make it a dramatically lower-cost alternative for renters who do not require West House's 2025-era finishes and pet-focused amenities.

The Summit I offers a 15-feature lifestyle package that includes both indoor and outdoor pools, a squash and racquetball court, a media and theatre room, and a shared laundry room—several of which are absent from its closest competitors. The Westside (700 King St W) provides no pool of any kind, no squash court, and no media room, limiting its recreational offering to a gym, sauna, rooftop terrace, and BBQ area. West House (88 Bathurst Street) has an outdoor pool but lacks an indoor pool, squash court, media room, and shared laundry; instead it differentiates with a golf simulator, dog run, pet lounge, and pool cabanas. The Summit II and Summit III share most of the subject's core amenities but add features the subject does not carry: The Summit II includes a hot tub, library, garden courtyard, and convenience store, while The Summit III adds a yoga studio and library. The Summit I's combination of dual pools, racquet sports, and a dedicated business centre and meeting room best serves professionals and active renters in the Downtown West pocket who want full-service recreational and remote-work facilities without the per-square-foot premium of newer or larger-footprint buildings within 90 metres.