I'm not familiar enough w/ all of of Hamilton's long term plans to comment on what might or might not make sense here down the road.
But I would note, the Fennel R-O-W is much larger than what it appears today: (at least in spots)
View attachment 660415
There is about ~5.5m between the sidewalks and the property lines.
Divided equally, that would provide 2.75m which is ample to support a physically separated cycle track.
Of course, that is only achievable through reconstructing the road and shifting the sidewalks inward, and removing all existing trees (there would be space for replacements.)
@innsertnamehere might have thoughts.