Bellaria Residences - Tower 1 — Rental Market Data

Bellaria Residences – Tower 1 realized an average lease rent of $2,613 per month over its full leasing history, sitting $63 above the four-comparable average of $2,550 and $79 above the Maple submarket lease benchmark of $2,534. Against the three same-address siblings, the subject trades at a lower monthly rent: $8 below Tower 2 ($2,621 at 9235 Jane Street, 0.13 km, 7 closed leases, $3.15 per square foot, 850 sq ft), $29 below Tower 3 ($2,642 at 9245 Jane Street, 0.14 km, 6 closed leases, $3.16 per square foot, 845 sq ft), and $37 below Tower 4 ($2,650 at 9255 Jane Street, 0.19 km, 3 closed leases, $3.42 per square foot, 795 sq ft). Abeja District – Tower III (498 Caldari Road, 0.22 km, 27 closed leases) is the outlier: its $2,288 average rent is $325 below the subject, but that gap is entirely a function of its 651-square-foot suite versus the subject's 821 square feet, not a lower per-unit valuation.

Bellaria Tower 1 leases at $3.27 per square foot across an average 821-square-foot suite, positioning it at a $0.06 per-square-foot discount to the four-comp average of $3.33 while offering 36 more square feet than the comp mean of 785. Against Tower 2 and Tower 3, the subject commands a premium of $0.12 per square foot (3.8%) and $0.11 per square foot (3.5%) respectively, yet delivers 29 and 24 fewer interior square feet; the lower nominal rent in those comparisons is driven by the smaller footprint rather than a weaker per-unit rate. Tower 4 inverts the dynamic: the subject trades at a $0.15 per-square-foot (4.4%) discount below that comp while providing 26 more interior square feet, giving renters a larger unit at a cheaper per-unit cost. Abeja District – Tower III presents the starkest trade-off—the subject's $325 higher monthly rent is fully explained by its 170-square-foot advantage, and on a per-square-foot basis the subject still offers an $0.32 (8.9%) discount, making it the more space-efficient choice for renters prioritizing interior area over amenity breadth.

Bellaria Tower 1 carries a 13-amenity lifestyle package that includes a dedicated Dining Room & Kitchen and Wine Cellar—two features absent from every one of its four nearby competitors. The Yoga Studio, present at the subject, is missing from Tower 4 and Abeja District – Tower III, while the Library & Reading Room is absent from Abeja. Conversely, Tower 4 differentiates with an Indoor Pool the subject does not offer, and Abeja District – Tower III layers on EV Charging, a Business Centre, a Rooftop Terrace, both an outdoor Children's Playground and indoor Kids' Play Room, a Pet Wash Station, and an Artist Studio—features with no counterpart at Bellaria Tower 1. The subject's package is best suited to professional tenants and couples who value a full-service residential experience with social dining, wine storage, and wellness facilities in a single address, rather than families seeking dedicated children's programming or pet-specific services.