In 1991, the Hudson's Bay Company discontinued the Simpsons banner in favour of The Bay, in the process selling several duplicate locations, including its Simpsons store at Fairview Mall, to Sears Canada. In 1997, mall co-owner Markborough Properties was acquired by Cambridge Shopping Centres from the Thomson family. Cambridge was acquired by Caisse de dépôt et placement du Québec subsidiary Ivanhoé between 1999 and 2001, forming Ivanhoé Cambridge. In the late 1990s, a major portion of the shopping centre's parking lot was redeveloped into a large bus terminal as part of the Toronto Transit Commission's (TTC's) Don Mills subway station (the eastern terminus of Toronto's new Sheppard subway line), which opened in 2002, and also as the southern terminus of York Region Transit's Viva Green bus rapid transit line. In late 2008, Fairview Mall completed a CAD$90 million (previously planned as $84 million) three-phase full renovation and redevelopment project which had been started in July 2006. The redevelopment phases included an expanded Shoppers Drug Mart and a large format Liquor Control Board of Ontario (LCBO) store. The food court was moved to the lower level under a high skylight near The Bay. All entrances to the mall were updated to incorporate hands-free technology and the common areas inside the centre were transformed with greater open spaces and wood finishes. Elevators serving the third floor offices were added for the first time, located near entrance #4. In 2009, retailers Bath & Body Works, Forever 21, Sephora, Hollister Co., and Zara opened within the mall. The facade along Sheppard Avenue received a complete facelift by the end of 2009. During that time, work on Fairview Mall's new "dining experience" area was undertaken. The Rainbow Cinema had originally been an older style Cineplex theatre. The Sears store closed in late 2017 as part of the liquidation of Sears' Canadian operations. In 2019, Cadillac Fairview announced the expansion of the mall which includes adding a row of restaurants, a Sears box redevelopment, a renovation of the existing mall, and a new pedestrian access to the TTC. It is expected to be completed in 2023. Part of the Sears space will be occupied by T & T Supermarket beginning in 2022. Ivanhoé Cambridge's 50% interest in the mall was purchased by an entity named 404 & Sheppard LP in 2018. It was later revealed that the entity was acting on behalf of investment funds overseen