The spot necked otters will NOT be part of the new expansion - they will be in the old (actually current) sea lion exhibit in the center of the zoo.
The expansion will be... actually I forgot what he said except for elephants (but there will be other animals). Yes, they will build an african elephant exhibit, get a new group of africans, and phase out their current (small) asian elephant exhibit.
I believe construction starts next year (2013) with an opening sometime in 2014.
Thanks for the update AZ. In the past the otters have been announced as part of the new Africa exhibit, so I'm guessing that the old seal exhibit will be a transitional exhibit, but time will tell. I'm really looking forward to seeing their new sea lion exhibit.