Optima on the Park II, 160 Alton Towers Circle: Minto Tower, Lower Fee

Optima on the Park II is the second of two 1989 towers on Alton Towers Circle, and the one with a clearer pedigree: condos.ca credits Minto as the developer. Its suites are generous, its fee is lower than the all-inclusive towers around it, and it trades at roughly the same price per square foot as its neighbours. Whether it is the better buy comes down to utility bills and the reserve fund. I’m Jatin Dua, RE/MAX Quantum Realty.

The Minto half of the Optima pair

Minto is one of the long-established developers in the Toronto and Ottawa markets, and condos.ca credits it with this building. Optima on the Park I next door at number 150 has no developer listed, so if the builder matters to you, number 160 is the one with a documented name attached.

The two towers were registered three weeks apart in the summer of 1989, but they are separate corporations: MTCC-824 at number 150 and MTCC-832 here. They now have different managers, Crossbridge next door and Living Properties here, which is a useful reminder that two buildings built together can be run quite differently thirty-five years later.

If you are torn between the two Optima towers, ask for both status certificates and read them side by side. Compare reserve fund balances against each study’s recommended contributions, the fee increases of the last few years and any major projects in progress. Those documents, more than finishes or floor, are usually what separates the better purchase.

Suites from 663 to 1,331 square feet

Condos.ca records suites from about 663 to 1,331 square feet. That is a wide spread for a 224-suite building, from a roomy one-bedroom at the bottom to a large two-bedroom-plus-den at the top.

The two-plus-den is the format I see most often in this generation of Scarborough tower, and it is the most flexible: the den works as a nursery, an office or a guest room. In 1989 buildings, the den is often a full enclosed room rather than an alcove, but confirm that on the floor plan of the suite you are looking at.

Expect original-era windows and layouts unless the suite has been renovated, and get a contractor’s view on kitchens, bathrooms and flooring before you set your price.

Parking is in the fee, but ask which space comes with the suite, whether it is owned or assigned, and whether there is a locker. Two otherwise similar suites can differ by a parking space or a locker, and that difference shows up again when you sell.

Why the fee here is lower than its neighbours

The fee covers air conditioning, common elements, building insurance, parking and water. Heat and hydro are not on the list. Across the circle, Platinum East includes both, so the two buildings’ fees cannot be compared directly.

The two current listings carry fees between about $450 and $555 a month. That is noticeably lower than the all-inclusive towers nearby, but you will pay heat and hydro on top. Ask the seller for a year of the suite’s utility bills and add them to the fee before you compare.

A lower fee is not automatically a better-run building. The questions that matter are whether the reserve fund is healthy for a building of this age and whether the fee has been kept low by deferring work that will come back as a special assessment or a jump in fees. The reserve fund study and board minutes answer that.

Living in Milliken as Steeles and Kennedy densifies

The amenity list includes an indoor pool, a sauna, a gym, a meeting room, a security guard and security system, and an underground parking garage. It is a practical package rather than a showpiece, and the guard and pool are the costly items.

Milliken is a mature residential area whose shopping is concentrated around Steeles and Kennedy, where UrbanToronto describes Pacific Mall on the Markham side and retail plazas and Splendid China Mall on the Toronto side. UrbanToronto has reported a run of high-rise applications at that intersection, including a Remington Group and Infrastructure Ontario plan for towers of 25 to 50 storeys beside Milliken GO, and a separate 2024 proposal for three towers reaching 53 storeys at 4440 Steeles East.

Those are applications, not buildings, and their timing is out of any buyer’s control. If they proceed, the Steeles and Kennedy node will look very different in ten years, with more shopping and better transit, and more new condo supply competing with resale suites like these. The panel beside this review shows current transit, schools and parks.

What Optima on the Park II costs

Condos.ca puts the building’s average around $454 per square foot. That is almost identical to Platinum East across the circle at about $453, which is interesting because Platinum East’s fee includes heat and hydro and this one does not.

Two suites are listed for sale as I write, asking between $498,000 and $518,000, with fees between about $450 and $555 a month. Asking prices are not sale prices, so treat that as a ceiling rather than a value.

To price a suite properly, look at recent sales of similar layouts in this tower and adjust for renovation, floor and view. My building sold report gives you those sales, so you can negotiate from evidence.

Keep in mind that lenders count part of the condo fee when they assess what you can borrow, so a lower fee can help a buyer qualify. That is a modest advantage at resale, provided the fee is low for the right reasons.

Building specifications

Amenities at Optima on the Park II

An indoor pool, sauna and gym cover most of what owners actually use day to day. The meeting room is handy for a building of this size, and the guard gives the lobby some supervision.

Jatin’s honest take on Optima on the Park II

Optima on the Park II — frequently asked questions

Looking at Agincourt, L’Amoreaux, Milliken, Dorset Park and Wexford in Scarborough more broadly? Start with my Toronto community guide — the neighbourhoods, what each pocket is like, and how they compare.