Not exactly the same idea. It's missing the bus lane to protect bikers.

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Extending Light Rail is expensive. Thus a more cost effective means to an end, is to extend the "rail" via bus lanes. In the center of the two lanes (where power lines currently run for the rail) There can be a row of trees with a two way bike lane. Bikes will be protected via the bus lanes from general traffic. Buses can be upgraded as technology evolves (i.e. hybrid, electric). Originally got the idea from the documentary movie "Urbanized".