We've had rumors building up over the last few weeks of a possible major refurbishment coming to Disney's Polynesian Resort. The news is now all but confirmed.
The folks over at Orlando Park News appear to have a direct quote from Disney, confirming that the refurbishment is due to start "soon", and that the renovations will affect the view from buildings 5 (Hawaii), 9 (Tokelau), 10 (Tahiti) and 11 (Rapa Nui). All of these buildings are located on the right side, and overlook Sunset Point (the beach area) and a courtyard in between buildings 9, 10 and 11. If a new DVC wing was being built, these two areas would be prime candidates given the amount of available space. We've put together a quick satellite image view of the resort, highlighting the buildings and the possible plots.
If this is infact for the rumored Disney Vacation Club wing, it would make sense for it to go into the "Plot 1" area, and for the water/beach area to be raised to land, with a new beach area being built once its complete. They could still fit the DVC wing into the plot without doing so, however it would mean they either have a very small DVC presence, or would have to go up several stories to make it worthwhile.
Interestingly the quote from Disney says:
Beginning next month, a portion of the east parking lot nearest to building 11 will temporarily close. In addition to that, access to the beach area on the east side of the resort, as well as Sunset Pointe (the grassy hill overlooking the Seven Seas Lagoon, located between the east beach and the main beach near the Nanea Volcano pool), will be unavailable. All other amenities (restaurants, pools, merchandise locations, etc.) will be available.
This could even mean it goes into "Plot 3", taking up some of the car park. This would make it very close to the monorail line however: