Despite its name, the terminal is not located in downtown Richmond Hill, but is situated 4 km (2.5 miles) to the south at the city's southern limits, bordering Vaughan and Markham, near the connecting road that links the grade-separated Yonge Street and Highway 7 intersection.

In September 2020, GO Transit extended route 45B to Richmond Hill Centre, which provides increased weekday frequencies to Unionville GO Station, Square One Bus Terminal while bypassing Toronto Pearson International Airport, and new access to Streetsville GO Station in Mississauga from Richmond Hill.

Under the MoveOntario 2020 plan, the Yonge subway line will extend north from Finch Station to Richmond Hill Centre Terminal.

[7] In March 2021, after budget considerations, Metrolinx announced that the two northern-most stations, one at Highway 7 and another 400 metres (1,300 ft) further north at High Tech Road, would be built on the surface.

From south of Highway 7, the extension would veer east away from Yonge Street to surface and then turn north along a railway corridor.