Rainbow Village II, 2466 Eglinton Ave E: Big Suites, All-In Fee, 1990

Rainbow Village II is where I send families who need real square footage in Scarborough and want one monthly bill that covers almost everything. It is an 18-storey, 287-suite tower from 1990 on Eglinton Avenue East, with suites up to about 1,350 square feet, an indoor pool and a fee that includes hydro. It is 36 years old, and you should buy it with that in mind. I’m Jatin Dua, RE/MAX Quantum Realty.

The second phase of a two-corporation complex

Rainbow Village was built in phases by Rainbow Village Scarborough Inc. The first phase, Rainbow Village I, is a separate condominium at 2460 and 2472 Eglinton Avenue East, on the same stretch of Eglinton. This building, at 2466, is the second.

Separate corporations make separate decisions over time on fees, reserves, repairs and rules, even when the buildings look alike. If you like the location, look at listings in both, and compare the two status certificates. It is one of the easiest ways to see which board has managed its building better.

I have not found a published architect or much about the original developer beyond its name. At 36 years, that matters less than the record of the corporation itself, which is what the documents will show you.

Family-sized suites

Suites run from about 531 square feet to about 1,356 square feet. The current listings are mostly two-bedroom-plus-den plans, with some larger layouts as well. That mix is unusual today; most new towers in Scarborough are built around one-bedrooms.

Buildings of this era tend to have separate kitchens, defined dining areas and more storage than new construction. After more than three decades, condition varies from one suite to the next, depending on what each owner has done. Budget for updates if you are looking at a suite with original finishes.

The top floors include penthouse-level suites. Upper-floor suites facing south and west will have the longest views, though what you see depends heavily on the exposure, so check it from the suite itself.

For a family, the den in a two-bedroom-plus-den plan is often the deciding feature. Check whether it has a door and a window, because a den that can work as a third bedroom or a home office changes who the suite suits and what it will be worth to the next buyer.

An all-inclusive fee, and what it really costs

The fee covers common elements, heat, air conditioning, hydro, building insurance, parking and water. That is close to everything; cable and internet are the main bills left to you. Across the current listings, fees ran from about $675 to $931 a month.

Compare that with a newer building at a lower fee, and add back hydro, heating, cooling and a parking charge before deciding which is cheaper. For a large family suite, the all-inclusive structure is often competitive.

The risk is that a 1990 building’s systems are now in their replacement window. Shared heating and cooling, elevators, windows, the garage membrane and the pool all have finite lives, and an all-inclusive fee also exposes owners to rising utility rates. Read the reserve fund study and the last two years of board minutes carefully.

Also look at how the corporation has handled fee increases. In an all-inclusive building, a steady pattern of modest annual increases is usually healthier than years of frozen fees followed by a large jump. Ask for the fee history for at least five years, and compare it with what the reserve fund study said the corporation should be collecting.

Eglinton East near Kennedy

The building sits on Eglinton Avenue just east of Kennedy Road, in a part of Scarborough that is a mix of apartment towers, plazas and houses. It is a practical, everyday location rather than a destination, with errands along Eglinton and Kennedy.

Kennedy Station to the west is the area’s transit hub, and the City’s planned Eglinton East LRT is intended to start there and run east along Eglinton toward the University of Toronto Scarborough and Malvern. It is a long-term project. The panel on this page shows the transit you can use today.

Suites facing Eglinton will hear traffic, so visit at rush hour if noise matters. Ask about the security arrangements too; condos.ca lists a security guard and a security system, and it is worth knowing the hours.

Because parking is in the fee and most errands here are by car or bus, think about how your household actually moves. A family with two cars should confirm whether a second space can be rented or bought within the building before committing.

Low price per foot, real square footage

Condos.ca puts the building average at about $533 per square foot, one of the lower figures I see for a high-rise in this part of Scarborough. Seven suites were for sale when I checked, and the ones I could see were asking from $499,000 to $599,000. None were listed for rent.

That low price per foot reflects the building’s age and the all-inclusive fee, which buyers price in. In exchange, you get more space for your money than almost anywhere in a newer building. A family that needs three bedrooms will struggle to find that in a new tower at this price.

Seven listings at once is a lot of choice and gives buyers leverage, particularly on suites that need updating. Compare suites on condition and total monthly cost, and check recent sale times in my building sold report before you offer. Also compare with Rainbow Village I.

Building specifications

Amenities at Rainbow Village II

The amenity package is classic for its era: an indoor pool, a sauna and a recreation room, with a security guard at the door. A pool is a real everyday benefit for families, but it is also one of the more expensive things a corporation maintains, so look for it in the reserve fund study.

Jatin’s honest take on Rainbow Village II

Rainbow Village II — frequently asked questions

Looking at Scarborough Bluffs, West Hill, Guildwood, Woburn, Malvern and Rouge more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.