Nope, because barely 200m east they've got the Eglinton bridge over the Don River.
The whole point is to have the portal come out the side of the hill. The total hill is only about 500m in length.
Across the bridge at present, Eglinton is six lanes wide. If you want to add to lanes of LRT beyond that to the south, you are looking at major, major construction. The bridge itself is at the bottom of the Eglinton gully. Heading east from that it climbs back up towards Leslie and the railway overpass beyond it. Immediately (literally) to the south, the drop-off to the parking lot on the valley floor only gets longer and longer the closer to Leslie you get.
That's an awful lot of fill or bridging you are going to need just to avoid the single intersection with Leslie. Then you are going to have to deal with digging right through the bridge foundation to the railway overpass.
I really fail to see the logic of going to that level of extra expense instead of just ensuring enough signal priority at Leslie such that north-to-east and east-to-north traffic doesn't impact the LRT (other traffic motions would not affect LRT operation).