Transit City 4 & 5, 175 Millway Avenue, Vaughan: What to Know Before You Buy or Sell (2026)

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 29 September 2026 · 12 min read — the newest Transit City towers, their amenities and neighbours, Vaughan’s August 2026 condo numbers and a pricing method for a suite there.

Transit City 4 & 5 at a glance

Source notes: CentreCourt gives 1,026 units and the dates. The City of Vaughan’s project page, written earlier, gives 1,472 units; I use the developer’s later figure and suggest you confirm the count in the declaration. The Council on Tall Buildings and Urban Habitat (CTBUH) lists 175 Millway Avenue for both towers and completion in 2023. Your unit’s legal address is on title.

Where it sits and what is nearby

Transit City 4 & 5 are the latest Transit City towers in SmartVMC, the 100-acre community the City of Vaughan describes around the subway. The City places them on Portage Parkway between Millway Avenue and Jane Street, steps from Vaughan Metropolitan Centre Station and the regional bus terminal.

• Transit. CentreCourt lists the subway, the bus terminal and zum, Viva and YRT buses, with major highways close by. Line 1 has ended at Vaughan Metropolitan Centre since 17 December 2017.
• Amenities. The City describes 20,000 square feet of amenity space: green roofs and terraces, a training club, a rooftop pool with cabanas, co-working space and a Hermès-furnished lobby.
• Parks and community. A one-acre park by Claude Cormier & Associates is part of the project, and CentreCourt points to a 9-acre central park, a YMCA and a library in SmartCentres Place.
• Neighbours. Transit City 1 & 2 and Transit City 3 are the obvious comparisons, a short walk west along Portage Parkway.

My Vaughan Metropolitan Centre condo buildings guide sets these towers against Expo City, CG Tower and Festival.

What TRREB’s August 2026 numbers say (Vaughan, not Transit City 4 & 5)

TRREB does not publish prices for single buildings, and it does not report the Vaughan Metropolitan Centre as its own area. The closest official numbers are for the City of Vaughan as a whole, one municipality inside York Region. Treat them as the market your unit competes in, not as a price for Transit City 4 & 5.

Source: TRREB Market Watch, August 2026, condominium apartments. The calculated rows are my arithmetic: active listings divided by sales, and sales divided by new listings. These figures cover every condo apartment in the City of Vaughan, not one building and not only the VMC. One month of data is a snapshot, not a trend.

For a 2023 building, the key line is supply. Vaughan had 431 condo apartments for sale in August 2026 against 63 sales, and many of the newest VMC suites were bought before construction by owners who may now sell. Transit City 4 & 5 compete with Festival’s four towers, which filled through 2025, as well as the older Transit City towers. The 41-day average in Vaughan is a planning figure, not a promise; a unit priced above its competition can take much longer.

What moves a unit’s value in towers like these

• Which tower, which floor. The 50-storey tower has higher floors to sell than the 45-storey one, and views over the park or toward the city skyline are worth more than views into a neighbour.
• Exposure and heat. In glass towers, west-facing units can run warm in summer; south gets the most light. See choosing condo exposure.
• Balcony or terrace. Units that step back at the upper floors or open onto a terrace have outdoor space buyers value. Confirm whether a terrace is exclusive-use common element in the declaration.
• Layout. Newer towers often have compact suites. A true two-bedroom with split bedrooms sells to more buyers than a narrow one-bedroom-plus-den.
• Parking and locker. Owned, exclusive-use or not included: the difference changes the buyer pool and the lender’s view.
• Fees against amenities. A rooftop pool and a large amenity floor cost money to run. Compare fees per square foot with the other Transit City towers; see do high maintenance fees lower my condo value.

What to check in the status certificate and reserve fund study

Every resale condo in Ontario comes with the right to a status certificate. Under section 76 of the Condominium Act, the corporation must deliver it within 10 days of a request, and the fee is capped at $100, according to the Condominium Authority of Ontario. The corporation must also have a reserve fund study done at least every three years. These two documents tell a buyer more about the building than any listing.

• The common expense fee for the unit, and whether any increase has been announced for the coming budget year.
• The reserve fund balance and whether the corporation is following the funding plan from its latest study.
• Special assessments, levied or planned. A special assessment that is already decided usually stays with the seller unless the offer says otherwise; check the wording with your lawyer.
• Legal actions the corporation is part of, and any known deficiencies.
• Rules and by-laws on short-term rentals, pets, move-in bookings and renovations.
• The exact parking and locker units that go with the suite, and whether they are owned or exclusive-use common elements.

For a building completed in January 2023, ask whether the corporation’s first reserve fund study is complete and what it recommends. Early budgets are set by the developer before anyone knows the true running costs, so the first few years can bring fee changes. Ask what increase, if any, is in the current budget, and whether any deficiency claims or disputes with the developer are open.

Have your lawyer read the certificate before your condition date. I read the budget and the reserve fund pages myself because that is where surprises hide.

Selling or buying here: how to price a unit

Transit City 4 & 5 have 1,026 units between them, so there are usually some sales to work from. My steps:

1. Sales of the same layout in either tower over the last six months, adjusted for which tower and how high.
2. Sales of close layouts in Transit City 1 to 3 and Festival, adjusted for age and amenities.
3. Every competing active listing at the same size in the VMC; buyers see all of them.
4. Adjustments for parking, locker, outdoor space, exposure and tenancy.

If your layout has not sold, read how to price a condo when nothing in your building has sold. If a unit has sat, why is my condo not selling covers the usual causes.

Two tools help here: the AI condo value estimator below gives you a range in about a minute, and the net proceeds calculator turns any price into what actually lands in your account.

Where I fit

I work with condo buyers and sellers across Toronto and the whole GTA, including Vaughan, and I price a unit in Transit City 4 & 5 from the sales and listings that actually compete with it. When you have your estimator range, book a call or phone 833-330-1925 and we can go through it together.

Frequently asked questions

Sources

• CentreCourt — Transit City 4 & 5 — 45 and 50 storeys, 1,026 units, completed January 2023
• CTBUH Skyscraper Center — TC4 — 175 Millway Avenue
• CTBUH Skyscraper Center — TC5 — 175 Millway Avenue
• City of Vaughan — Transit City 4 and 5 — amenities, one-acre park
• TTC — TTC officially opens Line 1 Extension — opened to the public 17 December 2017
• TRREB — Market Watch, August 2026 — condominium apartment tables by region and municipality
• Condominium Authority of Ontario — Status certificates — 10 days, up to $100, Condominium Act s. 76
• Condominium Authority of Ontario — Reserve funds and reserve fund studies — studies at least every three years
• Condominium Authority of Ontario — Special assessments
• CMHC — Calculating GDS / TDS — 50% of condominium fees counted; 39% / 44% limits

Related reading

• Vaughan Metropolitan Centre condo buildings guide
• Transit City 1 & 2: guide
• Transit City 3: guide
• Festival condos, Vaughan: guide
• How much is my condo worth in Vaughan?
• How to price a condo when nothing in your building has sold
• Why is my condo not selling?