I don’t think the SELRT debate is over by a long shot. And I wouldn’t be surprised at all if a Sheppard Subway extension were to become a hot topic again. I think one key reason will be the 2km ROW north of Ellesmere becoming available with the loss of the SRT. Although this is only 25% of the distance between Don Mills and STC, the potential to run a train on the surface over this stretch could save a sizable chunk of a Sheppard Subway’s estimated cost. How a route from Ellesmere/Kennedy to Sheppard/Don Mills could look is anybody’s guess, but I’m sure it’s possible and could be considered once the SELRT is canceled again.
Another point is the potential for development may have differed from a few years ago. If there’s promise for large-scale greyfield or brownfield redevelopment (which there could be in the Consumers Rd area or along Ellesemere) - ridership projections could be skewed in a subway’s favour over previous forecasts. What was once a firm 4,500 peak can miraculously turn into 15,000 peak. Not that I really believe such a quantum leap is realistic, but cooking numbers is nothing new. And with an extension of B/D, there’s bound to be significant changes in projections than with the SRT + SELRT plans.