High-Rise Condo

The Residences of 488 University Avenue

by Amexon Development Corporation

488 University Avenue, Toronto, ON M5G 1V2

Year Built

2017

Total Units

453

Avg $/sqft

$1,011

Storeys

Overview

Once the site of an office building, 480 University Avenue was repurposed to serve as the foundation for The Residences of 488 University Avenue. Rising to 55-storeys above a stunning glass podium, this building is certain to be a fixture of the Grange Park neighbourhood for decades to come.

This property provides residents with many modern amenities: outdoor pool, indoor pool, hot tub, spa, full fitness centre, Sky Club lounge, shared rooftop patio, visitor lounge, parking garage, and more.

Given its central location and wealth of amenities — Toronto condos for sale in this building are a great choice for students and faculty of Ryerson and U of T, young professionals, and couples who are seeking a new condo with convenient TTC service nearby and quick access to the best of what Toronto has to offer.

Developer

Amexon Development Corporation

Year Built

2017

Property Type

High-Rise Condo

Storeys

Total Units

453

Management

Duka Property Management Inc.

Amenities

Indoor Pool

Fitness Centre

Sauna

Rooftop Garden

Party Room

24/7 Concierge

Price History

394 records

Loading history…

Market Stats

Prices in The Residences of 488 University Avenue are down 14.1% compared to last year.

$1,011

Avg $/sqft

-14.1%

YoY change

Avg days on market

Location & Walkability

Walk Score

99/100

Daily errands on foot

Transit Score

100/100

TTC, GO, subway access

Bike Score

74/100

Bike lanes & infrastructure

City in Ontario

Toronto

urban diverse lively

Toronto is a large city in Ontario known for its diversity and vibrant culture. It offers a mix of residential and urban living with plenty of amenities.

Toronto, Ontario

Day to dayLivability

Walkability

out of 100 · averaged over 215 past and present listings

Average walk score reported on listings here

6.4

Schools near listings

out of 10 · averaged over 215 past and present listings

Fraser Institute ratings within 2 km of each listing, closer schools weighted more

Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.

What it costsAffordability

Median asking price

$759,900

6% above Ontario

In Toronto

$759,900

In Ontario

$716,900

Median monthly rent

$2,600/mo

4% above Ontario

In Toronto

$2,600

In Ontario

$2,499

$1,085

Per square foot

≈ 24.4 years

Of rent to match the purchase price

On the marketMarket snapshot

For sale

4,328

Median $759,900

Condos 3,148 · Houses 1,179

For rent

4,513

Median $2,600

Recently sold

Recently leased

Market data as of 2026-08-16. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.

The honest readPros & cons

What people love

Diverse dining options
Many parks for outdoor activities
Good public transit access

Keep in mind

Higher median sale price than provincial average
Median rent is above provincial average

The feel of the placeLifestyle

Daily life in Toronto is busy and lively, with many activities and services available. The city has a mix of urban and suburban areas.

Great for young professionals families first-time buyers

Within the boundaryWhat's nearby

The boundary

661.4 km²

Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.

1,669

Parks

2,209

Playgrounds

1,015

Transit stations

586

Grocery stores

3,605

Restaurants

1,594

Cafés

536

Gyms

142

Libraries

700

Pharmacies

Counted across all 661.4 km² of Toronto. From OpenStreetMap, as of 2026-10-26.

The schoolsWhich schools, and how they rate

6.4/10

Average rating of the 539 rated schools in this area

911

Elementary

325

Secondary

Avondale Alternative Elementary School
Public · Grades JK–8 · Toronto DSB
10.0/1010.0 over 5 yrs
1st of 3,045 Ontario elementary schools
135 students · EQAO 2024-2025
Cottingham Junior Public School
Public · Grades JK–6 · Toronto DSB
10.0/10
1st of 3,045 Ontario elementary schools
140 students · EQAO 2024-2025
Northmount
Independent · TO Private Non-Inspected
10.0/109.8 over 5 yrs
1st of 3,045 Ontario elementary schools
18 students
Rosedale Junior Public School
Public · Grades JK–6 · Toronto DSB
10.0/109.3 over 5 yrs
1st of 3,045 Ontario elementary schools
220 students · EQAO 2024-2025
Sathya Sai
Independent · TO Private Non-Inspected
10.0/10
1st of 3,045 Ontario elementary schools
24 students
St Michael's Choir (Jr) School
Catholic · Grades 1–8 · Toronto CDSB
10.0/109.6 over 5 yrs
1st of 3,045 Ontario elementary schools
135 students · EQAO 2024-2025

Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Toronto, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.

The peopleWho lives here

2,794,356

Population (2021)

631.1 km²

Area

4,428

People per km²

41.2

Median age

$94,555

Median income

52%

Own their home

2.5

People per household

1,160,800

Households

Every age

Children (under 15)13.8%
Working age (15–64)69.2%
Seniors (65+)17.1%

What is built here

Detached houses23.3%
Semi-detached6.2%
Townhouses5.4%
Duplexes4.1%
Low-rise apartments13.9%
High-rise apartments46.7%

Own or rent

52%Owners

48%Renters

Across 1,160,800 households

When it was built

Mostly 1960 or earlier

1960 or earlier29%
1961–198029%
1981–19909%
1991–20008%
2001–20055%
2006–20105%
2011–20156%
2016–20217%

Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.

46.6%
Born outside Canada: 41.1%
Hold a degree or higher: 54.8%
Employment rate: 26.1%
Commute by transit: 61%
Commute by car: 1.7
Children per family: $81,720
Median income after tax: $124,573
Average household income: 13.2%
Living on a low income: $1,534/mo
Renters pay, per month: $1,693/mo
Owners pay, per month: $1,041,540
Median home value at census: 33.8%
Renters spending 30%+ of income on housing: 24%
Owners spending 30%+ of income on housing

Statistics Canada, Census of Population 2021. Added up from 3,743 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.

Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, HOMEH school registry, Photo: © Wikimedia Commons contributors (CC BY-SA)