So, I was thinking a bit about the construction timelines at DHS. I could be wrong, I at this point I'm expecting TSL to open in the early 2018 timeframe and Star Wars to open in late 2019.
So, one question is "if" Phase 3 happens, what would it be and where would it happen. There are IMHO two main options for locations for additional "stuff" after TSL and SW -- the Echo Lake area including pushing out into the parking lot & the Animation Courtyard area, perhaps even connecting to around where RnR is. My guess is that nothing else will get shut down (except OMD which is needed to build the entrance to TSL) until at least TSL comes online to add attraction capacity.
If they want to build around Echo Lake, they could potentially shut down IJ stunt show once TSL opens. So, maybe in 2018, and can could on that part of Echo Lake including the backstage area and into the parking. That's probably the ideal in terms of timeframe because something substantial might be able to open around 2021. If they want to do a big build around the Animation Courtyard, they probably need to demolish the Animation Bldg (i.e. current Star Wars Launch Bay) -- I don't see them doing that until at least Star Wars opens. So, if they do a major build there, we are talking more like 2022/23 for an opening. Outside of replacing VOLTM, it's hard for me to see them do much of anything else around Animation Courtyard with keeping the Animation Bldg intact.
Hopefully, we'll get some idea of what if anything is to come sometime soon. I'm guessing we won't hear much of anything until D23 next summer though -- the announcements last year kinda came out of the blue and weren't really leaked (some hints were out there but not any specifics IIRC).