Consumers was always included in the planning back when the EA was done. There were even discussion about moving the station closer to the middle of the zone. I'm not sure how much documentation of that remains, but the illustration below is roughly what I can recall. It's certainly true that the trend now is to have fewer stations given the astronomical increases in construction cost.
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Consumers and VP will only get one station. It makes no sense to have a consumers station when the majority of the business park is not in comfortable walking distance. More likely a shuttle bus doing loops from the station.
Agincourt GO and Kennedy will also share one as well. You can just about to fit a station in between the distance from Kennedy on the West to the Go tracks on the east.
If the extension happens, I suspect it will be Victoria Park, Warden, Kennedy, McCowan. And if this government builds it, it will almost certainly climb out of the ground in between Yorkland and Victoria Park and be built on an elevated viaduct.
Consumers and Victoria Park were to have station on Sheppard using LRT and never heard of Consumers been place as the map shows.
Since this is now an ML project, stations will be shifted and eliminated to reduce the cost. Since Victoria Park is an transit route, it will have a station with the box most likely on the west side of VP with an exit close to Consumers.
As for Kennedy and Agincourt, again the box will be on the east side of Kennedy with an exit close to Agincourt. This means longer walking distance in place of an LRT stops.
As for being elevated, I don't see that happen even though the line would open years sooner than tunneling. To deal with CP corridor, you have to be very high to get over it or go under it as well the GO Line and why I see tunneling being the option for the line.
The option for having the subway converted to an LRT saw a portal just west of Consumers, but was drop when the subway was to stop at Consumers underground with the LRT starting there on top of it..
TTC will have to have bus service to service Yorkland and Consumers as well the current route since stations will be beyond the 500 meter distance between LRT stops to the point some riders will be doing 2000m plus walks to get to a subway station.
You need more than Victoria Park, Warden, Kennedy, McCowan stations as you are defeating the needs of getting ppl out of the car and using transit instead if you do those stations. This what you get for using the wrong technology to please a few ppl at a huge cost and taking years longer than the right one.
In 14 years since the Sheppard LRT was supposed to happen, very few projects have been built on Sheppard with a few now happening. There are plans for a number of site that have come and gone over the years while other sites has seen development.
The subway beyond McCown is a pure waste of money and resources considering the current plan is over kill now.