I think you'll find there are virtually no houses closer to Waywick than Goodwood, the Leader Street flats are borderline. For people using it as a destination, it is likely to be the former Keswick users.
To create an interchange to current standards, you need lifts and stairs between both sides of the tram track and both islands, four in all. Cheapest is allowing pedestrians crossing the tracks and two long ramps. The bridge structure is fairly light so the usual gold plated massive structure (see the Oaklands proposal) would present loading issues.
In my predictably doomed attempt to keep a rebuilt Keswick (with direct access to Adelaide Parkway terminal and access under Anzac Highway to the show grounds), I pointed out, as Bill has said, that the permanent population distribution in the foreseeable future favours Goodwood, and also the need for a tram/train interchange. Having been a very frequent user of Goodwood in the past, and having walked with one gammy leg between the Highway bridge and Goodwood while photographing the rail site works a couple of weeks ago, I am still sure that the retention of Goodwood and the building of an interchange is necessary.
It doesn't need to consist of more than relatively light weight structures capable of carrying a load of up to 50 people (school excursions) cantilevered out from the overpass with simple tram shelters on them and maybe a couple of support columns plus lifts to the platforms. They could even offer much better shelter than the wind and rain swept megastructure at South Road (have you waited there on a rainy day, as I have?).
Over engineering is killing off all sorts of necessary improvements to our railway systems. In Melbourne the cost of a couple of kilometres of rail extension on a former rail route and a new railway station or two is astronomical. Former Victorian Railways officials must be spinning in their graves at the expense.
Here, and much closer to home, I and other Oaklands LOCAL residents want the present very convenient ground level station retained. There is a huge amount of open space available to allow gently graded ramps to take the roads over the station area and free us from the need to climb long flights of stairs or wait for lifts while the train leaves. Ask the commuters of Mawson Lakes what they think of their terminal and having to be bused to Green Fields.
I am pretty sure that the palatial station in the sky at Oaklands will be pie in the sky. It would cost a fortune to build, and future governments will do what they have done now for forty of fifty years and perpetuate the Oaklands bottleneck long past my lifetime and perhaps yours as well.