I wonder if maybe they had mezzanine financing in place for that time period, but not full financing. Or there could be special soil or chemical remediation issues with this site that aren't present on most other sites in Toronto that could be a cause for delay. Or it may simply just be a shortage of labor for the contractor selected. There could be a myriad of reasons for the slow pace on this one. The important thing is that they're making progress, and that it hasn't stopped altogether.
"Then each time Fleetwood would be not so much overcome by remorse as bedazzled at having been shown the secret backlands of wealth, and how sooner or later it depended on some act of murder, seldom limited to once."
Against the Day, Thomas Pynchon