That makes sense. They were aiming for 2011.
I thought that was rather optimistic.
I doubt they'd even have the environmental assessment done by that time.
The Portland tram (which is shorter and only has two trams) took a year to build and 4-5 years from plan to fruition.
2 years for the SFU gondola is a little optimistic... though I could see 3, if they're highly motivated.