L Tower — Rental Market Data

L Tower currently lists seven active rental units as of August 31, 2026, with asking rents ranging from $2,499 to $4,000 per month, an average of $3,235 and a median of $2,850. The average suite measures 660 square feet at an asking rate of $4.98 per square foot. Inventory is dominated by 1-Bedroom + Den layouts at 57.1 percent of active listings, with the remaining units split between two 2-Bedroom suites and a single compact 1-Bedroom, indicating a lean toward mid-size executive configurations rather than entry-level studios.

The dominant active layout at L Tower is the 1-Bedroom + Den, accounting for four of seven listings or 57.1 percent of available inventory. The 2-Bedroom tier holds two units at 28.6 percent with an average asking rent of $3,925 per month across 788 square feet at $4.99 per square foot, while a single 1-Bedroom unit at 14.3 percent asks $2,695 per month for 400 square feet at $6.74 per square foot. The 1-Bedroom + Den tier averages $3,025 per month across 662 square feet at $4.54 per square foot, offering the most competitive rate per square foot among active tiers.

L Tower's active asking rents span from $2,499 to $4,000 per month, a dollar spread of $1,501 and a percentage spread of 60.1 percent. The median asking rent sits at $2,850 per month. The entry-level suite is a 1-Bedroom + Den measuring 596 square feet at $4.19 per square foot, while the peak listing is a 2-Bedroom at 826 square feet asking $4.84 per square foot, reflecting both a larger footprint and a premium layout configuration.

L Tower's active den premium is $330 per month for an additional 262 square feet of space, equating to a marginal cost of $1.26 per square foot for the extra den area. Active parking premiums cannot be reliably isolated from current listings due to insufficient paired sample data, and historical lease records do not provide a verified parking benchmark either.

L Tower's active asking rent of $3,235 per month and $4.98 per square foot both exceed the St. Lawrence submarket benchmarks of $2,934 per month and $4.51 per square foot, placing the building 10.4 percent above the submarket on a rate-per-square-foot basis. The building's higher nominal rent is reinforced by its larger average suite size of 660 square feet versus the submarket norm, meaning renters pay more in absolute terms and per unit of space. L Tower's seven active listings represent approximately 6 percent of the 116 total active listings across the St. Lawrence submarket.

L Tower's average closed lease rent of $3,304 per month sits $412 (14.2%) above the four-building comparable average of $2,892, reflecting its newer construction and larger suite sizes. Backstage at 1 The Esplanade leases at an average of $2,789 per month ($4.07 per square foot, 689 sq ft), The Esplanade at 25 The Esplanade averages $2,875 per month ($3.65 per square foot, 798 sq ft), London on the Esplanade – West at 1 Scott St averages $2,823 per month ($4.37 per square foot, 663 sq ft), and London on the Esplanade – East at 38 The Esplanade averages $3,081 per month ($4.13 per square foot, 750 sq ft). The subject building's rent premium is most pronounced against the 1989-era The Esplanade, where the $429-per-month gap is driven largely by a $0.69-per-square-foot rate differential rather than a size advantage, since L Tower's 789-square-foot average is actually 9 square feet smaller than The Esplanade's 798.

L Tower leases at $4.34 per square foot for an average 789-square-foot suite, placing it at a premium over three of four nearby competitors while trading at a slight $0.03-per-square-foot discount below London on the Esplanade – West. Against Backstage (689 sq ft at $4.07/sq ft), L Tower offers 100 additional square feet for a $0.27-per-square-foot premium, meaning tenants gain meaningful interior space at a modest rate increase. Compared with The Esplanade (798 sq ft at $3.65/sq ft), the subject building is 9 square feet smaller yet commands a $0.69-per-square-foot premium, so renters are paying more per unit of space for a building completed 26 years later. London on the Esplanade – West (663 sq ft at $4.37/sq ft) actually charges slightly more per square foot while delivering 126 fewer square feet, making L Tower the more space-efficient choice in that pairing. London on the Esplanade – East (750 sq ft at $4.13/sq ft) sits 39 square feet below the subject at a $0.21-per-square-foot lower rate, a trade-off that favours budget-conscious renters over those prioritizing floor area.

L Tower's amenity profile differentiates itself through year-round indoor programming and on-site convenience features that several nearby competitors either lack or offer in a less functional form. Where Backstage, London on the Esplanade – West, and London on the Esplanade – East all provide an outdoor pool subject to seasonal weather, L Tower offers a heated indoor pool available 365 days a year. The building's shared laundry room is absent from all four comparables, eliminating the need for tenants to transport linens off-site. A dedicated meeting room at L Tower is missing from both Backstage and London on the Esplanade – East, giving remote workers and small-business tenants an on-property workspace. The dining room and kitchen facility is not offered at either London tower, and the library and reading room is absent from The Esplanade at 25 The Esplanade. Collectively, this package—indoor aquatic fitness, in-building laundry, professional meeting space, communal dining, and a quiet reading area—best serves career-stage professionals and remote workers who prioritize year-round indoor amenities, work-from-home infrastructure, and daily convenience over outdoor recreational features.