I just recently moved to an apartment on 106 street in downtown Edmonton. It's absolutely perfect for transit and I'm considering selling my car, as I haven't used it once in the month I've been here (it costs $60 a month to park it in our lot, not including gas and maintenance, insurance etc etc compared to $80 a month for a transit pass).
Once I'm attending school in the winter semester I'll also have the U-pass.
I live about two blocks from two LRT stations in each direction, there is a transit centre nearby, Jasper Ave is right there with bus links to everywhere I'd need to go, and that overlooks the fact that I basically walk everywhere (work, restaurants, bars, etc).
The beginnings of the new Metro Line of the LRT are opening soon with three new stations (MacEwan, Royal Alex/Kingsway and NAIT stations), and two additional lines (plus extentions to existing lines) have already been approved by City Council.
I really hope these plans come to fruition and we have a city that is truly connected to light rail in almost all corners.
http://www.edmonton.ca/transportation/Long_Term_LRT_Network_Plan_March_2012.pdf