Based on recent comments I have recently transitioned my thinking from the Capital line eventually reaching YEG to perhaps a more economical and express solution as stated in the origins of this thread.
Assuming CP would be willing to play ball what kind of costs would it look like to build 3kms or so of track (including a bridge over QE2) to tie into the existing rail line. Would also need 5 or 6 stations. I could see the airport paying for their own station and chipping in for a bit of the rail connection. I would think you build the line from YEG to Whyte Avenue to start with stops at YEG, South Common OR Ellerslie, Whitemud, & Whyte Ave. Once high level bridge is upgraded you can take it across there for a stop at downtown.
What kind of costs would this be reasonably?
3KM single track - 100M
Train Bridge over QEII - 50M
2 basic stations - 50M
2 nicer stations (Whyte & YEG) - 100M
Current CP track upgrades and added sidings - 100M
Trains - 100M
I have no clue about costs so I could be wildly off. There would need to be some sort of leasing agreement from CP as well I would assume but just to get things going is the above $500 million a reasonable number? Say the airport covers off 75 million that leaves you with 425 million to find between then City of Edmonton, GOA, & GOC. For what you are getting that seems like a pretty decent bargain compared to what you are getting for similar distance LRT projects.