The project web site (www.315corridor.com) has a link to the master plan document (PDF file). The document focuses on six geographic areas to redevelop/enhance. The focus areas are located along the rail line that parallels SR 315. The master plan document has as one of its guiding principles an integrated multimodal transit system that includes light rail, campus buses, walkways, and bikepaths. The document highlights these six areas and shows conceptual renderings of the areas. Included in some of the conceptual renderings are station locations for "multimodal transportation hubs", which happen to be located along the RR line. There is even some discussion about the need to begin dialogue with RR operators so that a light rail line that can serve the corridor and surrounding communities can be realized. Since this is a master plan document, I would tend to believe this light rail line is not even on COTA's radar, but is any light rail plan on their radar?!?! However, I take it to be a positive that Columbus and its Corridor partners recognize that this initiative should include multimodal options.
In my novice transit planner's opinion, I think this suggested light rail line should connect the 315 R/T corridor elements with downtown Columbus. The easiest way to do this would be to extend this line to City Center via a retrofitted Town Street bridge. Not only would this benefit the 315 R/T corridor initiative, but also breathe life into City Center and provide the proposed River South neighborhood with a valuable transit connection via light rail and streetcar.