The long timeline makes a lot of sense, especially when you consider how this will impact parking and BVD in general (lane closures for new/modified entrances, flyovers, etc.). My only worry with this is that the West Side garage will likely be built first because it would be the least disruptive to traffic and typical parking habits, but if things start turning sour on the project (vendors pulling out with no replacements, another economic crash cycle during construction, etc.), there will be a similar parking issue as we have now, but an even bigger glut of parking and massive operational costs on the West Side.
Other than that nagging thought, though, I love it.