I'm sceptical of KK's plan's ability to attract and sustain WV development, mainly because of how disjointed the community will be and the assumption that office demand will outpace residential in the neighbourhood. I think that the majority of adjacent development ought to be CC-X, with high density further south and less density as we get closer to the river. If the development doesn't reach a critical mass, it will flounder. The area's greatest assets are the river, the adjacent neighbourhoods, and the LRT, but KK's design fails to fully utilize all of these.
Here's my 20 minute sketch-up that shows how you could solve some of the problems with KK's design.
1) Move the stadium as far south as possible. Run Bow Trail EB under the bleachers. Build mall/concourse into north side of Sunalta station.
2) Align Bow Trail WB with the north side of the stadium. Develop as much as shadowing will allow north of Bow Trail to make the neighbourhood as contiguous as possible with Eau Claire and Hillhurst. Outbound traffic from downtown along WB Bow is also an opportunity for urban-format big-box retail that could serve the WV.
3) Create a new corridor from 19th St NW to Sunalta. This could hug the side of the stadium and go over Bow Trail into the Sunalta Concourse. It has to be easy for people to get between Hillhurst, WV, Sunalta neighbourhoods.
4) Build high-density residential, hotel, and office projects adjacent to CPR, LRT, Bow Trail, and Crowchild Trail. Leave no loosestrife-ridden storage yard undevelopable. For reference, a residential building 100-200 m away from the river can be 33 stories (ie. Pulse). That's about halfway between the river and the CPR. The block I've illustrated north of WB Bow Trail could be about 10-15 stories. The block adjacent to the CPR could be 50+ stories if there were ever demand.
5) Orient around greenspaces, pathways, and placemarkers along the Bow River.
6) I left 14th St/Bow Tr as is, but something needs to be fixed there.
See, it doesn't need to be scrapped altogether, just a few changes. As for funding, I think the owners (and directly or indirectly, the stadium users) ought to pay for the basic price of building a stadium on level ground, and the city ought to use CRLs for everything else.