Opera Place I — Rental Market Data

Opera Place I has one active listing as of August 31, 2026, asking $2,500 per month with both the average and median rent at $2,500. The available suite measures 550 square feet at an asking rate of $4.55 per square foot. The entire active inventory is a single one-bedroom unit, meaning the building currently offers no multi-bedroom or executive-layout options for prospective renters.

The sole active layout at Opera Place I is a one-bedroom unit, representing 100 percent of the building's current available inventory. That single listing asks $2,500 per month for 550 square feet at $4.55 per square foot. No two-bedroom, three-bedroom, or den-included units are currently listed, so renters seeking larger footprints must look to the broader Downtown Core submarket.

Opera Place I's active pricing spread is zero dollars and zero percent, as the single available unit sets both the minimum and maximum asking rent at $2,500 per month. The entry-level and peak suite are the same one-bedroom unit at 550 square feet and $4.55 per square foot. With only one listing on the market, there is no internal price gradient for renters to navigate within this building.

Den premiums at Opera Place I cannot be quantified, as no active listings include a den configuration and no paired den-versus-non-den data exists in the current sample. Parking stall costs likewise cannot be reliably isolated from the available transaction data; the sample is insufficient to separate a consistent parking add-on from the base rent. Renters should confirm any parking or den-related charges directly with the leasing office before signing.

Opera Place I's active asking rate of $4.55 per square foot sits 0.2 percent below the Downtown Core submarket asking benchmark of $4.56 per square foot, placing the building at effective parity on a rate basis. The nominal asking rent of $2,500 per month is lower than the submarket average asking rent of $3,471, but that gap is explained by suite size: the active unit at 550 square feet is 211 square feet smaller than the submarket implied average of 761 square feet. Opera Place I's single listing represents one out of 224 total active listings across the Downtown Core submarket.

Opera Place I's average realized lease rent of $2,732 per month sits $325 below the four-comp benchmark of $3,057, with the gap widening as competitors' completion years advance. Opera Place II (889 Bay St, 0.02 km, 10 closed leases) averages $3,106 per month at $3.79 per square foot across 840 square feet, placing the subject $374 lower on a monthly basis. The Allegro at Opera Place (909 Bay St, 0.08 km, 18 closed leases) averages $2,801 per month at $4.04 per square foot over 719 square feet, a $69 monthly gap. Murano – North Tower (37 Grosvenor St, 0.08 km, 35 closed leases) averages $3,003 per month at $4.37 per square foot across 692 square feet, leaving the subject $271 lower. Burano Condominiums (832 Bay St, 0.09 km, 46 closed leases) averages $3,317 per month at $4.18 per square foot over 810 square feet, the widest spread at $585 below the subject's realized rent.

At $3.99 per square foot and 718 average square feet, Opera Place I trades at a modest discount to the comp-set average of $4.10 per square foot and 765 square feet, delivering a lower total monthly cost through a slightly tighter interior footprint rather than a rate concession. Against Opera Place II, the subject commands a $0.20 per square foot (5.3 percent) premium yet provides 122 fewer interior square feet, so the higher per-foot rate is more than offset by the smaller envelope, netting a $374 monthly saving. Versus The Allegro at Opera Place, the subject trades at a $0.05 per square foot (1.2 percent) discount with essentially identical 718-versus-719 square footage, a near-parity trade-off that keeps the monthly gap to just $69. Murano – North Tower presents the sharpest contrast: the subject trades at a $0.38 per square foot (8.7 percent) discount while actually providing 26 more interior square feet, meaning renters gain both space and rate relief for a $271 monthly reduction. Burano Condominiums carries a $0.19 per square foot (4.5 percent) premium over the subject with 92 more square feet per suite, so the subject's lower nominal rent of $585 per month reflects a meaningfully smaller interior rather than a weaker asset valuation.

Opera Place I fields a ten-item amenity suite anchored by an indoor pool, hot tub, sauna, gym, and a squash and racquetball court that no nearby competitor replicates. The squash and racquetball court is the building's signature differentiator: Opera Place II, The Allegro at Opera Place, Murano – North Tower, and Burano Condominiums each offer gyms and steam rooms but none provide a dedicated racquet sport facility. Where the subject falls short, three of the four peers add rooftop terraces, garden or courtyard spaces, and business centres (Murano and Burano), while Burano extends its aquatic offering with an outdoor pool and a full dining room and kitchen. The Allegro and Murano layer in yoga studios and running tracks absent from the subject's roster. This package—indoor aquatic recreation, a unique racquet court, meeting and media rooms, and concierge security without rooftop or outdoor lifestyle add-ons—suits the professional renter who prioritizes year-round indoor fitness and social space over al-fresco amenities, particularly those who value a compact, low-maintenance downtown base with a built-in recreational edge.