Published 19 October 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Building at a glance · Kensington-Chinatown
The Residences of 488 University Avenue in one look.
488 University Ave, Toronto
Built
2020
Storeys
38
Suites
447
Developer
Amexon Development Corporation
Corporation
TSCC-2770
Walk Score
100
Free · about 45 seconds · no obligation
What is your unit at The Residences of 488 University Avenue worth today?
Floor, exposure, parking and this building’s own recent sales move the number. Your estimate appears instantly, and a written CMA from me is one tap after.
- Uses this building’s own recent sales
- Adjusts for floor, view and parking
- Your number appears instantly
How you get around
Scores from Walk Score®
Walk Score
Walker's Paradise
Transit Score
Rider's Paradise
Bike Score
Biker's Paradise
Transit, nearest first
- 1St Patrick stationLine 1 Yonge–UniversitySteps away
- 505Dundas St West at University Ave - St Patrick Station505 Dundas streetcarSteps away
- 13Avenue RdTTC bus0.2 km
- 19BayTTC bus0.4 km
- 97YongeTTC bus0.7 km
- GOUnion Station GOBarrie / Kitchener / Lakeshore East / Lakeshore West / Milton / Richmond Hill / Stouffville lines1.3 km
- UPUnion stationUP Express · Pearson to Union1.3 km
TTC is renewing streetcar track at Long Branch Loop through late 2026; some Lake Shore streetcar trips run as buses.
Distances are straight-line from the building.
How far is everything?
From the front door, in kilometres.
Schools for this address
Public schools from the TDSB school locator, checked 18 October 2026. Boundaries change: confirm with the board before you buy.
ElementaryJK–8
Orde Street Public School
18 Orde St, Toronto
0.5 km · ~8 min walk
Zoned for this address
High schoolGr 9–12
Harbord Collegiate Institute
286 Harbord St, Toronto
2.1 km
Zoned for this address
Catholic elementary
St Mary Catholic Elementary School
1.6 km · ~25 min walk
Nearest, confirm zoning
Catholic elementary
Our Lady of Lourdes Catholic Elementary School
1.7 km
Nearest, confirm zoning
Catholic secondary
St Joseph's College School
1.0 km · ~16 min walk
Nearest, confirm zoning
French-language · Viamonde (public)
Ecole Elementaire Gabrielle Roy
1.4 km · ~22 min walk
Nearest, confirm zoning
Catholic (TCDSB) and French-language schools shown are the nearest to the building, not confirmed zoning. Check the TCDSB school locator, Viamonde or MonAvenir.
By the numbers
What units at The Residences of 488 University Avenue actually trade for
| Unit type | Sold | Median price | Leased | Median rent |
|---|---|---|---|---|
| 1 bed | 4 | $671,000 | 39 | $3,000/mo |
| 2 bed | 4 | $845,950 | 53 | $3,450/mo |
| 3 bed + | 0 | too few | 16 | $4,900/mo |
Table covers the last 24 months. TRREB MLS® System aggregates; a median is shown only with 3 or more deals, and sizes come from listing ranges. Not an appraisal: get an estimate for your unit.
Living here
Renters, Airbnb and elevators at The Residences of 488 University Avenue
Do mostly owners or renters live here?
Renter-heavy building. Of 257 deals here in the last 24 months, 244 were leases and 13 were sales. A high lease share usually means more investor owners, more move-ins and a deeper pool of rental comparables.
Can you Airbnb a unit at The Residences of 488 University Avenue?
No active City registrations here right now. In Toronto you can only host in your principal residence, a whole unit for at most 180 nights a year, with a $390 yearly registration and 6% accommodation tax. You cannot buy here to run it as a full-time Airbnb. Check the condo’s rules in the status certificate before you count on it.
How reliable are the elevators?
Ontario requires residential buildings to report any elevator outage lasting 48 hours or more, and this address has none on record. Elevators still need modernizing every 25 to 30 years, so check the reserve fund study for the date.
Sources: TRREB MLS® System lease and sale counts; City of Toronto short-term rental registrations (Open Data, 18 Oct 2026); TSSA Residential Elevator Availability portal.
Before you buy here
Five things the listing will not tell you about The Residences of 488 University Avenue
- Reserve fund health. Ask for the latest reserve fund study and its date. A thin fund in an older building usually means fee jumps or a special assessment.
- Special assessments and big repairs. Check the status certificate for planned levies and for balcony, garage, window or elevator work.
- Insurance deductible. Find the corporation’s deductible for water damage. If it is higher than your own policy covers, raise your coverage before closing.
- Fee trend. Compare this year’s budget with last year’s. Rises of 2–5% a year are typical; bigger jumps need an explanation.
- Lawsuits and rules. Look for legal claims against the corporation, and for rules on pets, short-term rentals and leasing.
Send me the status certificate and I will flag anything that matters before your conditional period runs out.
Get my status certificate reviewedWatch this building
Know the moment a unit at The Residences of 488 University Avenue lists or sells.
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- New listings for sale or rent here
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Building alerts
Takes about twenty seconds.
Eat, drink and shop nearby
Within about a 10-minute walk.
Restaurant
Avenue Cafe + Bistro
Steps away
Restaurant
Cafe Plenty
Steps away
Coffee
Tim Hortons
Steps away
Sandwiches
Mr. Sub
Steps away
Thai
Thai Express
Steps away
Caribbean
All Spice Jerk Express
Steps away
Places from OpenStreetMap. Check hours before you go.
Parks nearby
- Gallery Park
- Grange Park
- McCaul - Orde Parkette
Nearest grocery
Longo's
0.4 km · ~6 min walk
Prices: TRREB MLS® System aggregate medians for 488 University Ave, last 12 months (updated 18 October 2026), compiled by Jatin Dua, Broker of Record, RE/MAX Quantum Realty Inc., Brokerage; deemed reliable, not guaranteed. Schools: TDSB school locator; Catholic and French schools: nearest by distance. Transit and scores: Walk Score® and TTC/GO station locations. Nearby places: OpenStreetMap. Distances are straight-line estimates.
Almost every condo tower in Toronto starts at the ground. The Residences of 488 University Avenue starts 18 floors up, on top of a 1968 office building that was stripped, braced and reclad to carry it. It is one of the most unusual structures in the city, and the amenity package is among the strongest downtown. I’m Jatin Dua, RE/MAX Quantum Realty.
Quick answer
The Residences of 488 University Avenue is a high-rise condominium at the northwest corner of University Avenue and Dundas Street West, which I group with the Queen West, Trinity-Bellwoods, Kensington and Little Italy area of Toronto. Amexon developed it with Core Architects, adding 37 residential floors on top of an existing 18-storey office building for a combined 55 storeys; condos.ca lists the condominium as 38 floors. Condos.ca lists 447 suites and UrbanToronto reported 453. It was completed in 2020, and TSCC-2770 was registered on 16 April 2020. Duka Property Management manages it, and the fee includes common elements, heat, air conditioning, water and building insurance.
The Residences of 488 University Avenue at a glance
Thirty-seven floors on top of an office building
The base is the 18-storey office building at 480 University, built in 1968. Rather than demolish it, Amexon kept it, renewed the office floors and built the condominium on top. UrbanToronto followed the engineering closely: Sigmund Soudack & Associates reinforced the existing structure with steel bracing on the outside of the old frame, and Toddglen Construction built a tabletop structure above the office floors to carry the 37 condo floors down to strengthened foundations.
The old concrete grille facade came off, and the whole building got a new, higher-performance curtain wall. UrbanToronto notes the randomized fins on the slim mullions are a deliberate nod to the narrow slots of the old grille. From the street, you see one tall glass tower; the join between old and new is hidden behind the new skin.
Why does this matter to a buyer? Because the lower 18 floors are offices, every condo suite starts well above street level. Even the lowest residential floors have views over the University Avenue canopy, and there are no low, dark podium suites of the kind you get in many downtown towers.
Suite counts and floor counts, explained
You will see this building described as 38 floors and as 55 storeys. Both are fair: condos.ca counts the residential part, and UrbanToronto counts the whole stack of 18 office floors plus 37 condo floors. Suite counts also differ, with condos.ca listing 447 and UrbanToronto’s construction-era reports giving 453.
At launch, Amexon marketed layouts from one-bedroom to three-bedroom-plus-den, with balconies up to eight feet deep. Condos.ca now gives a size range of about 544 to 1,699 square feet, which is larger at the top end than the launch material, likely because of combined or penthouse-level suites. Original finishes included hardwood, stone, European appliances and marble in the ensuite bathrooms.
I could not confirm ceiling heights from a reliable source, so check the floor plan and measure during a viewing. Deep balconies are a real plus for outdoor use, but they also shade the room behind them, so check the light on lower residential floors. In a tower like this, ask which floor a suite is on relative to any mechanical levels, since those affect noise and outlook.
Thinking about buying or selling here?
I work this area every week and I will give you a straight answer, including when the answer is to wait. No pressure, and no drip campaign you cannot get out of.
Call or text 833-330-1925 Send me a message
Jatin Dua, Broker of Record — RE/MAX Quantum Realty Inc., Brokerage. Not intended to solicit buyers or sellers currently under contract with another brokerage.
The SkyLobby and an amenity package built for a tower this size
Residents enter through a two-storey SkyLobby that sits above the office floors and gives access to more than 30,000 square feet of amenity space, according to UrbanToronto’s launch report. II BY IV Design did the amenity interiors.
The headline is water: there is an indoor pool and an outdoor pool on a terrace, which is rare downtown. Add a fitness centre, party rooms and a screening room, and you have the kind of package that justifies the fee in a building with more than 440 suites to share the cost.
UrbanToronto also reported that the project includes a three-storey atrium on University Avenue with a weather-protected entrance to St. Patrick station, and that residents who drive have valet parking. Confirm both work the way you expect during a viewing, because the details of parking assignment matter when you resell.
University and Dundas, day to day
This corner sits between the hospital row on University Avenue, the Art Gallery of Ontario and Grange Park to the west, Chinatown and Kensington Market a little further west, and the Eaton Centre to the east. For hospital staff, students and anyone who works downtown, it removes the commute almost entirely.
The trade-off is that University Avenue is a wide, busy arterial and the office floors below you mean daytime activity at the base of the building. Higher suites are quieter and get the views; lower residential floors are still above the street but closer to the noise.
It is also worth knowing who your neighbours in the base are. Office tenants share the address, the site and parts of the building envelope, so your daily experience includes office-hours foot traffic and deliveries at street level. Most residents never notice it above the SkyLobby, but it is part of the building’s rhythm.
The data panel on this page covers transit, schools, parks and nearby food in detail.
Priced as a premium downtown tower
Condos.ca puts the average here at about $1,028 per square foot. That is well above Residences at RCMI a few blocks south at about $825 and 210 Simcoe at about $854, and in line with newer towers north of College such as Design Haus at about $1,068 and Theory at about $1,092, all on condos.ca.
Seven suites were listed for sale when I wrote this. Four one-plus-den and two-bedroom suites in the 600 to 799 square foot range were asking between about $699,000 and $849,900, and three larger suites were asking between about $1,150,000 and $1,568,000. Fees across those listings ran from about $574 to $1,001 a month.
That works out to roughly $0.93 per square foot in fees, which is reasonable for a building with two pools and a SkyLobby, with heat, air conditioning and water included. Eleven suites were listed for rent at the same time, which tells you there is a healthy investor share. For recent sold figures, see the data panel or ask me for a building sold report.
Building specifications
| Building name | The Residences of 488 University Avenue |
| Address | 488 University Ave, Toronto |
| Developer | Amexon Development Corporation |
| Architect | Core Architects |
| Amenity interiors | II BY IV Design |
| Storeys | 37 condo floors over an 18-storey 1968 office building (55 in total); condos.ca lists 38 floors |
| Total suites | Sources conflict: 447 (condos.ca) or 453 (UrbanToronto) |
| Condo corporation | TSCC-2770 |
| Registered | 16 April 2020 |
| Property management | Duka Property Management |
| Suite sizes | About 544 to 1,699 sq ft |
| Suite types | One-bedroom to three-bedroom plus den |
| Parking | Valet parking (per UrbanToronto launch report) |
| Fees include | Common elements, heat, air conditioning, water and building insurance |
Amenities at The Residences of 488 University Avenue
The SkyLobby, the two pools and the large fitness centre are the reasons people choose this building over cheaper towers nearby. If you will actually swim and train at home, the package earns its share of the fee; if you will not, you are paying for space you will not use.
Jatin’s honest take on The Residences of 488 University Avenue
Who this building suits
Hospital workers, students and downtown professionals who want to walk to work, and buyers who want a full amenity package with real pools. The higher floors suit anyone who wants views over University Avenue and the AGO without being in a 70-storey tower.
What I’d want you to check
This is a 2020 building with an unusual structure, so read the reserve fund study and the engineering notes carefully: ask how the corporation’s costs are separated from the office owner’s, who maintains the shared curtain wall and the structural transfer level, and how the two pools are budgeted. Confirm how valet parking and lockers are assigned to the suite you buy. With many rentals in the building, check the rules on short-term rentals in the declaration and the status certificate.
The value question
At about $1,028 per square foot, you are paying for the amenities, the structure and the corner. I think the premium holds for higher suites with good views, especially compared with older towers nearby that lack pools. If price per foot is your main test, Residences at RCMI or 210 Simcoe cost noticeably less, but neither offers what this building does at the top of the elevator.
Free building report: The Residences of 488 University Avenue
Send me your email and I’ll put together a current report on The Residences of 488 University Avenue — real sold comparables, what’s listed right now, and what the maintenance fees actually cover.
- Every sale in the building over the last 12 months
- Current active listings and asking prices
- Maintenance fee breakdown and what’s included
- My read on which exposures and floors hold value
Tell me what you are planning
Three quick answers so I come back with something useful, usually the same day.
Thinking about buying or selling here?
I work this area every week and I will give you a straight answer, including when the answer is to wait. No pressure, and no drip campaign you cannot get out of.
Call or text 833-330-1925 Send me a message
Jatin Dua, Broker of Record — RE/MAX Quantum Realty Inc., Brokerage. Not intended to solicit buyers or sellers currently under contract with another brokerage.
The Residences of 488 University Avenue — frequently asked questions
Why is 488 University Avenue built on top of another building?
Amexon kept the existing 18-storey office building from 1968, reinforced it with steel bracing and a transfer structure, and added 37 condominium floors above it.
How many storeys is 488 University Avenue?
The whole building is 55 storeys: 18 office floors and 37 condo floors. Condos.ca lists the residential portion as 38 floors.
How many suites are at 488 University Avenue?
Condos.ca lists 447 suites, while UrbanToronto’s reports gave 453.
Who designed 488 University Avenue?
Core Architects designed the tower for Amexon, with amenity interiors by II BY IV Design.
Does 488 University Avenue have a pool?
Yes. There is an indoor pool and an outdoor pool on a terrace, along with a fitness centre, party rooms and a screening room.
What is the SkyLobby at 488 University?
It is a two-storey residents’ lobby above the office floors that gives access to the amenity levels.
Is there a direct connection to the subway?
UrbanToronto reported a three-storey atrium on University Avenue with a weather-protected entrance to St. Patrick station. Check the current access during a viewing.
How does parking work at 488 University?
UrbanToronto’s launch report described valet parking for residents who drive. Confirm whether a suite includes parking in the status certificate.
What do the fees include at 488 University?
Condos.ca lists common elements, heat, air conditioning, water and building insurance.
Who manages 488 University Avenue?
Condos.ca lists Duka Property Management.
How much do condos at The Residences of 488 University Avenue sell for?
Over the last 12 months the median resale at The Residences of 488 University Avenue was $737,500, across 8 sales. The typical unit sold in 39 days at about 96% of the asking price. That works out to roughly $1,025 per square foot.
How much is rent at The Residences of 488 University Avenue?
The median lease at The Residences of 488 University Avenue over the last 12 months was $3,350/mo, from 108 leases. Units typically leased in 17 days.
What does each unit type cost at The Residences of 488 University Avenue?
Over the last 24 months: One-bedrooms sold for a median $671,000 and rented for $3,000/mo; Two-bedrooms sold for a median $845,950 and rented for $3,450/mo; Three-bedrooms rented for $4,900/mo. Each median uses three or more deals.
Are prices at The Residences of 488 University Avenue up or down since 2022?
Down about 28%. The median sold price per square foot was $1,431 in 2022 and $1,025 over the last 12 months. Pricing off 2022 comparables is the most common mistake sellers make here.
What rental yield does The Residences of 488 University Avenue offer an investor?
At a median price of $737,500 and a median rent of $3,350 a month, the gross yield is about 5.5%, before maintenance fees, property tax, insurance and mortgage interest. Net cash flow depends on the fee and your down payment, so run the numbers for the exact unit.
Do mostly owners or renters live at The Residences of 488 University Avenue?
Mostly renters. Of the deals here in the last 24 months, 95% were leases and 5% were sales.
Can you Airbnb a unit at The Residences of 488 University Avenue?
Only in limited cases. Toronto allows short-term rentals only in your principal residence, a whole unit for at most 180 nights a year, with a $390 yearly City registration and 6% accommodation tax. The City’s register shows no active short-term rental registrations at this address. The condo’s declaration and rules can ban short stays outright, so check them in the status certificate.
Has The Residences of 488 University Avenue had elevator outages?
None on record. Ontario requires residential buildings to report elevator outages of 48 hours or more to TSSA, and this address has no reported outage since July 2022.
What schools is The Residences of 488 University Avenue zoned for?
For TDSB public schools, the address is zoned for Orde Street Public School (Elementary, JK–8), Harbord Collegiate Institute (High school, Gr 9–12). Catholic and French-language schools are listed on this page by distance. Boundaries change, so confirm with the board before you buy.
What is the Walk Score of The Residences of 488 University Avenue?
Walk Score 100, Transit Score 100 and Bike Score 98. Most daily errands can be done on foot.
What restaurants and shops are near The Residences of 488 University Avenue?
Within about a 10-minute walk: Avenue Cafe + Bistro (Restaurant), Cafe Plenty (Restaurant), Tim Hortons (Coffee), Mr. Sub (Sandwiches), Thai Express (Thai). The closest grocery store is Longo's, 0.4 km away.
Which parks are near The Residences of 488 University Avenue?
Gallery Park, Grange Park, McCaul - Orde Parkette are the closest green spaces.
What is my unit at The Residences of 488 University Avenue worth?
Use the free AI estimator at the top of this page. It uses this building’s own recent sales and adjusts for floor, view and parking, and your number appears instantly. For a written CMA, I will price your exact unit against the latest comparable sales.
How do I find out when a unit at The Residences of 488 University Avenue lists or sells?
Join the building alerts on this page. I watch this building by hand and will tell you when a unit lists, sells or drops in price, with my read on whether it is priced right.
Looking at Queen West, Trinity-Bellwoods, Kensington and Little Italy more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.
Condo Valuation
What’s your condo
worth today?
Three quick steps. Condos don’t price like houses — your floor, your view, and whether you own parking move the number more than anything else. This weighs all of them.
Reading recent condo sales…
Estimated market value
—
$0–$0
Most likely $0 · about $0 per square foot
What moved the number
Starting from what comparable units in your area sell for, here’s what your specifics added or subtracted.
Market context
—
—
Two units, same floor plan,
$90,000 apart.
That happens constantly in condos — one has the parking, the right exposure, or a board that keeps the reserve fund healthy. A model can’t see your status certificate. I can.
About the author — Jatin Dua, Toronto condo broker
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty. I work condo buildings across Toronto and the GTA every week, including Queen West, Trinity-Bellwoods, Kensington and Little Italy. What buyers and sellers usually need is someone who knows the individual buildings: which exposures get the light, which corporations keep healthy reserve funds, and which units are priced past what they will appraise for.
If you’re buying or selling at The Residences of 488 University Avenue, I’ll give you the honest version — including when I think you should walk away. Reach me at [email protected] or 833-330-1925, or book a free consultation.
More Queen West, Trinity-Bellwoods, Kensington and Little Italy building guides: 109OZ · 110 Palmerston Avenue · 1181 Queen West Condos · 12 Degrees · 130 Clinton Street Townhouses · 150 Beverley Street Condos
More resources: GTA condo directory · Building sold report · Book a call
© 2026 Jatin Dua, Broker of Record, RE/MAX Quantum Realty Inc., Brokerage. The building data on this page was compiled and verified by Jatin Dua. Reproduction or republication, in whole or in part, requires written permission. To request permission, call 833-330-1925.