The TTC is apparently about to announce a light rail plan for Finch and Eglinton Avenues.
It will be interesting to see how all this plays out. I am still not really convinced, based on the Spadina LRT experience, that LRTs as currently conceived are going to be a major improvement on ordinary bus and streetcar service. Of course a lot will depend on implementation: larger vehicles (articulated or even double-articulated as in Boston and SF), tunnelling in selected high density areas, and a hard line against left turns across the LRT in lower density areas would make the whole thing look a lot more promising.
Otherwise, I worry we’re going to be spending quite a lot of money on half-measures with fairly marginal increases in service quality.