I think some common sense needs to be applied here (though it doesn't seem welcome in this thread most of the time
)
What kind of numbers does the 504 King generate? I'm willing to bet they're far higher than what we'd see along this portion of Eglinton, even after this proposed development. Increasing density in this corridor in no way, shape or form calls for putting the LRT underground (or elevating it).
If Queen and King can get by with streetcars (that don't even have a ROW), an above ground LRT is fine for this section. As much complaining as there's been, an LRT here is a lot better than what riders on Queen and King get.
We should really be looking at underground routes for those lines, that are already busy, have proven demand, with surrounding density that's only getting higher.