Major retail anchors inside Empress Walk include Loblaws, LCBO, Shoppers Drug Mart, Cineplex Cinemas, PetSmart, and Dollarama.

Lastman began a wave of development proposals that eventually led to a large number of high-rise and government buildings being constructed along Yonge Street, leading to the creation of North York Centre within the larger existing neighbourhood of Willowdale.

Empress Walk and other major developments in the nearby area meant North York Centre became a second central business district for the City of Toronto from the 1990s onwards.

The plans for Empress Walk meant that the North York Centre station could be integrated with the new mall, giving residents of the towers access to the Toronto subway system.

Behind the Empress Walk complex on its east side is Princess Park, commemorating the original sites of the first municipal building and fire hall of North York.