The whole business of "economic benefits" is creative accounting used by Metrolinx to justify high capital costs. Those benefits are almost all notional, not real dollars. They cannot be offset against the construction cost, and they accrue in future years while capital costs are now. Money for this sort of thing is going to be scarce in coming years as there are other priorities, notably health care, housing and social relief.
As for crossing a "widened" Eglinton Avenue, that's a bogus argument. Right now, a pedestrian has to get all the way across in one go, whereas with an LRT (or BRT) right of way, they could do this in stages. Think of what Spadina looked like before the transit right-of-way. The real issue is to ensure that pedestrians get a fair chance at green time and don't wait ages before the signals deign to give them a shot at crossing.