Whoah, hold your horses everyone. As far as I have heard, there is only speculation about a Plan B and it is far, far from a certainty, and there are huge issues to overcome.
The only thing I've heard talked about seriously right now is proceeding with upgrading the intersection at Glenmore and 37th, as that has been needed for years now.
Also, you have to fault City planners of yesteryear for this disaster, allowing that much development South of the resevoir without securing a North-South access first was a huge mistake.
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