To echo
KAT, it's unknown whether work on the quiet pool, or Hidden Springs as it's now called, will be finished. They're going to start later this month, but other than that, no timetable has been given outside of a two-year construction window for the entire planning package. Given that, one can assume that there will be numerous walls up in and around WL for the next 24+ months (has Disney ever finished a huge project on time?). The plans are to build cabins along the shore of the lake, both on the WL proper side and closer to the rental boat/bike shop, as well, where it will parallel the Villas along the lake shore. While Disney generally does a good job of hiding construction, truth is there will be impacts, especially since part of the plan calls for a new building on the beach between WL and the Villas. If you're comfortable being around construction and the walls (and some noise) it brings, you'll still enjoy the Lodge as its lobby interior, restaurants, and main pool aren't supposed to be affected. The suites in the Villas won't be affected, either, except being closer to much of the construction--the rooms themselves should be fine. As
KAT says, "probably" for all I've mentioned since no one in a position of authority has actually said anything other than "yep, we're gonna be building there starting in late October." Hope this helps with your planning!