Bike elevators are used in Norway to assist with steep hills - used much like a T-Bar on a ski hill. Place them in a few strategic areas to increase bike traffic (and reduce cars!).
See http://www.trampe.no/english/ for an example.
Bike escalators are an interesting idea that may make sense elsewhere in the region (e.g. urban bike routes with a very steep, extended incline). The City of North Vancouver has expressed interest in the past in this idea for Lonsdale Avenue.
That will be a cool idea! It will atract tourists and will be a good way to encourage bike riding!