Hillcrest Mall was built on a 19-hectare (46-acre) lot on the northwest corner of Yonge Street and Carrville Road.

[1] Hillcrest Mall also held a draw, the winner of which was given a two-week all expenses paid trip to Mexico.

[1] A five auditorium movie theatre operated by Cineplex Odeon Corporation opened in October 1980, with a total seating capacity of 519; this space is now a GoodLife Fitness.

In 2006, a farmers' market was established on the premises, operating from the mall's parking lot two days a week.

The vacated anchor space was reconstructed for other tenants, which by the end of 2016 included Sporting Life, H&M, Aritzia, and Pandora.

[18][17] On October 24, 2017, Hillcrest announced that they would put Marshalls, HomeSense, Indigo, and Old Navy stores in the former Target space in November 2018 along with a major interior renovation.

The mall's interior got a refresh with new floors, lighting, washrooms, ceilings, upgraded food court, and new entrances 1 & 6 which was completed by October 2018.