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Mind the gap!
The Caltrain extension isn't part of this first phase of the Terminal, unless you've got a few billion dollars you can spare? The Terminal is going to be built buy constructing a slab on top of columns driven down into the bedrock so later on when the extension does happen they can dig out the cavernous train station underneath while the Terminal is open for business.
Setting the trains aside, the terminal is going to be pretty cheap, since most the money is being raised by private development of land around it. The money raised from the 1000' Transbay Tower is where a lot of it will be coming from (plus 30% of the housing units will be affordable, below market units)
One thing though, the MTC is regional, serving (ok, maybe that's not the right word) the entire SF Bay Area.