I was gonna say, "Sure, but you need to show us how to get Highway 11 up Thibeault Hill without making it even steeper", then I realized you wanted Highway 64 to be the new 11.
If we are really gonna stick with the latter, sure why not. In that case, we are better off with a single-point interchange which definitely doesn't eat up any more space than is needed:
https://en.wikipedia.org/wiki/Single-point_urban_interchange.
It's so sad. I've seen a news article about the interchanges before but it's now archived for good. Like, I can still identify the location of the interchanges but their exact shapes aren't known.
Edit: I found documents about interchanges at Highway 17 (current) and at Highway 63. Nothing on the one at Highway 11 (current) though.