MODO Modern Downtown — Rental Market Data

MODO Modern Downtown's all-time average realized lease rent of $2,300 per month sits $272 above the overall comp benchmark of $2,028, with the premium most pronounced against the 2003-era Aspen Heights buildings. The Waverley at 84 Aspen Springs Dr (0.11 km, 3 closed leases) averaged $2,000 per month at $2.93 per square foot across 683 square feet, meaning the subject commands a $300-per-month higher rent. Aspen Heights I – Building C at 83 Aspen Springs Dr (0.13 km, 2 closed leases) averaged $2,150 per month at $2.87 per square foot over 750 square feet, placing the subject $150 higher on a monthly basis. Aspen Heights I – Building A at 91 Aspen Springs Dr (0.18 km, 3 closed leases) averaged $1,933 per month at $2.86 per square foot across 678 square feet, making the subject's rent $367 higher per month. Aspen Heights II – Building E at 102 Aspen Springs Dr (0.19 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark for direct comparison.

MODO Modern Downtown leases at $3.08 per square foot across an average 750-square-foot suite, positioning the subject at a premium on both rate and interior scale relative to every active nearby alternative and the submarket benchmark of $2.87 per square foot. Against The Waverley ($2.93 per square foot, 683 sq ft), the subject commands a $0.15 per square foot (5.1 percent) premium while providing 67 more interior square feet, so the higher monthly rent reflects both a larger footprint and a higher rate per unit of space. Versus Aspen Heights I – Building C ($2.87 per square foot, 750 sq ft), the subject trades at a $0.21 per square foot (7.3 percent) premium on identical average square footage, meaning the entire rent differential is driven by asset valuation rather than size. Against Aspen Heights I – Building A ($2.86 per square foot, 678 sq ft), the subject commands a $0.22 per square foot (7.7 percent) premium while delivering 72 more interior square feet, compounding the nominal rent gap through both a larger footprint and a higher per-foot rate. In each case the subject's higher monthly rent is underpinned by its 2018 construction, broader amenity suite, and—where applicable—greater interior area rather than a pure pricing markup.

MODO Modern Downtown offers a seven-feature lifestyle package including a gym and fitness centre, yoga studio, games and billiards room, party and lounge room, meeting room, garden and courtyard, and an outdoor children's playground, placing it ahead of three of its four immediate neighbours on amenity breadth. The Waverley (84 Aspen Springs Dr) matches the subject on gym, yoga, party lounge, garden, and playground but adds a library, hobby room, and BBQ area while lacking the subject's games and billiards room and dedicated meeting room. Aspen Heights I – Building C (83 Aspen Springs Dr) provides only a gym and party lounge, omitting the yoga studio, games room, meeting room, garden, and playground entirely. Aspen Heights I – Building A (91 Aspen Springs Dr) carries no listed common facilities whatsoever, operating as a bare-bones residential tower. The subject's signature differentiators—the games and billiards room and the dedicated meeting room—appear in none of the four comparables, giving MODO Modern Downtown a distinct remote-work and social-recreation edge. This amenity mix best serves young professionals and small families in Clarington who want a full-service lifestyle building with flexible work and recreation space without stepping outside the immediate Aspen Springs corridor.