[5] The expansion would see the entirety of Market Village be demolished and replaced with a new mall, the Remington Centre.

[7] The expansion has faced delays due to concerns over traffic congestion from nearby property owners, as well as a pending environmental assessment and transit study by the City of Toronto government.

[7][8] Prior to Market Village's impeding closure, only minimal maintenance and repairs were being done; many businesses closed or moved after store leases expired and were not renewed.

Market Village announced in early 2017 that it would be hosting its final Chinese New Year celebration, and formally closed on March 1, 2018.

[2] Demolition of Market Village officially began in October 2018 with west wing of mall demolished in December 2018.