Try over 10,000 units. The LCBO Lands alone are expected to house around 10,000 people. You have Tridel's complex of 5 buildings, a college campus, significant employment space of several million square feet, thousands of condo units in One Yonge, LCBO Lands, Daniels Lakeshore, 215 Lake Shore, Tridel's Lower Donlands, the next waterfront Toronto phase which is looking for a development partner right now, etc.
Today the the East Bayfront has a school, office, and condo. By the time the LRT is built, it will have far, far more. You cannot underestimate the growth of residential, employment, and institutional uses in the area. It is critically important a proper transit link is constructed.