Place — Rental Market Data

Place at 8501 Bayview Ave has two active listings as of August 31, 2026, spanning a price range of $2,950 to $4,900 per month with an average asking rent of $3,925 and a median of $3,925. Both units average 1,300 square feet at an asking rate of $2.27 per square foot, and the entire active inventory is composed of two-bedroom layouts representing a 100 percent share. The current offering leans squarely toward mid-size two-bedroom suites rather than compact entry-level one-bedrooms or larger multi-bedroom executive plans.

The dominant and sole active layout at Place is the two-bedroom configuration, accounting for both available units and a 100 percent inventory share. Each two-bedroom listing averages 1,300 square feet with an asking rent of $3,925 per month and a rate of $2.27 per square foot. No one-bedroom, three-bedroom, or den-included layouts are currently listed, making this a small-selection tier with no cross-layout alternatives for renters.

Place at 8501 Bayview Ave shows an active asking spread of $1,950 per month, or 66.1 percent, between the minimum entry rent of $2,950 and the peak asking rent of $4,900. The median asking rent sits at $3,925 per month, anchoring the midpoint of this two-unit range. The entry-level suite is a two-bedroom at 1,300 square feet priced at $2.27 per square foot, while the peak listing is also a two-bedroom with square footage and per-square-foot rate not recorded in the current dataset.

Place at 8501 Bayview Ave does not have a quantified den premium or square-footage delta for den-included suites, as no den configurations are present in the active inventory. Marginal cost per square foot for additional den space therefore cannot be calculated from current listings. Active parking stall premiums also cannot be reliably isolated due to an insufficient paired sample, and no verified parking fee should be assumed for either of the two available units.

Place at 8501 Bayview Ave asks an average of $3,925 per month at $2.27 per square foot, compared to the Richmond Hill submarket asking benchmark of $2,800 per month at $3.82 per square foot. The building's nominal rent is higher than the submarket average, yet its rate per square foot is 40.6 percent below the submarket asking benchmark, a gap explained by the 1,300-square-foot suite footprint being larger than the typical submarket listing. Place represents two out of 94 active listings in the Richmond Hill submarket, or roughly 2.1 percent of total available inventory.

Place at 8501 Bayview Ave realized an average lease rent of $3,100 per month, which is $750 above the overall comp benchmark of $2,350 and $543 above the Richmond Hill submarket average of $2,557. Tao at 8763 Bayview Ave (0.51 km, 11 closed leases) averaged $2,345 per month at $3.74 per square foot across 646 square feet; Royal Gardens – I at 370 Highway 7 E (0.71 km, 13 closed leases) averaged $2,456 per month at $3.57 per square foot across 703 square feet; Royal Gardens – II Crown Building at 372 Highway 7 E (0.82 km, 15 closed leases) averaged $2,289 per month at $3.64 per square foot across 635 square feet; and Royal Gardens – II Palace Building at 376 Highway 7 E (0.82 km, 6 closed leases) averaged $2,308 per month at $3.92 per square foot across 608 square feet. All four competitors posted active closed-lease volume, so every figure above represents a realized transaction benchmark rather than an asking-price reference.

Place trades at $2.38 per square foot on a 1,300-square-foot average suite, a meaningful discount below the comp average of $3.72 per square foot and the submarket leased benchmark of $3.63 per square foot, while delivering roughly double the interior space of its nearest peers. Against Tao (0.51 km), the subject offers 654 more square feet at a rate $1.36 per square foot lower, meaning the $755-per-month nominal premium is a space differential, not a valuation premium. Royal Gardens – I (0.71 km) shows the same pattern: 597 additional square feet at $1.19 per square foot less, with the subject's $644 higher monthly rent fully explained by the larger footprint. Royal Gardens – II Crown (0.82 km) and Palace (0.82 km) follow identically, with the subject providing 665 and 692 more square feet respectively at per-square-foot rates $1.26 and $1.54 lower. A renter choosing Place over any of these 2014-to-2016 buildings is paying more in absolute dollars but receiving a materially larger living area at a cheaper per-square-foot cost, making the subject the space-maximizing option in this pocket.

Place at 8501 Bayview Ave fields a 12-feature amenity deck that includes three dedicated sports courts—basketball, tennis/pickleball, and squash/racquetball—features absent from every one of its four nearby competitors. Tao (0.51 km) offers a yoga studio, media room, and pet wash station but no court-based recreation; Royal Gardens – I (0.71 km) adds a rooftop terrace and media room but lacks any racquet or court sport; Royal Gardens – II Crown (0.82 km) includes a golf simulator and rooftop terrace yet still has no basketball, tennis, or squash facilities; and Royal Gardens – II Palace (0.82 km) mirrors the Crown's golf-simulator-and-rooftop-terrace mix without court sports. The subject's indoor and outdoor pools, hot tub, sauna, gym, concierge, party room, games room, and BBQ area overlap broadly with the peer set, so the true differentiator is the court-sport cluster. This package best serves active, multi-generational households and sport-oriented renters who want on-site recreation beyond a standard gym-and-pool setup without the compact-suite trade-off of the 2014-to-2016 competitors.