Closings and Registration:
1. Other than in the overall general sense, closings are unrelated to the actual completion, everything is ready in the building. Closings take place shortly after the new Condominium Corporation has been Registered by the relevant jurisdiction (in this case, the City of Toronto), and the legal Condominium Corporation entity has been created. Once registration has taken place, the developer, or more technically, the Declarant (the one who submits the Declaration for Registration) is then legally in a position to convey title on closing of the sale.
2. Registration is a documentation preparation, submission and approval process. The City requires a number of documentation components to be prepared and submitted for its review and approval - including the final version of the Declaration itself, along with other items, including an approved and signed off site plan agreement. Until all is in place, submitted, reviewed and approved, registration will not take place, and unit will not close. Obviously, until then, after units have been turned over for initial occupancy, interim or phantom rent is paid to the developer.
Some buildings have gone for extended periods of time between initial occupancy, registration, and closings - can be a year or more in extenuating circumstances. In other, much rarer cases, registration can take place very quickly, well before occupancy has been completed. In one case in Toronto, a building was registered before the first resident actually took occupancy of their unit - the Berczy at Front and Church Streets.
So while this obviously does not help directly answer your question as to when the closing is going to happen, I hope it provides some insight into the process, and some guidance as to where and how to get any further insight on the anticipated closings - follow-up with your Developer as to the status of their activities in getting the building registered.