From what I remember the city has the money to build the extension from section 37 / development charges from Scenic, and Crosslinx has built the intersection for it on Eglinton, so it's just a matter of grading and paving the connection, and installing the signals.
I imagine the City is waiting for the Crosstown to finish up before tendering the work.
Eglinton Connects ends at Brentcliffe I believe, at least from a public realm improvements perspective, as Metrolinx is handling the rest from there through to Kennedy.