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The way that bridge is aligned makes me think that the Big 4 Building will need to be demolished before this project is complete. Does anyone know if that's the case?

If I'm not mistaken, the bridge itself is the new siding and tracks won't be laid any further north.
 
It's just the new siding because of the demolition of Victoria Park Station. It's not a full new track. There is one at VPS already, now it's at Erlton.

However, the Big Four being torn down would be a huge win for sensible planning and design enthusiasts the world over.
 
I imagine it would simply be rebuilt, in a far less heinous looking manner.
 
An email came out from CMLC declaring that today marks the official ground breaking of the Victoria Park LRT station and the 17th Ave extension, not quite sure what they count the last year of work as... but the important bit was the following:
Between now and October, crews will be removing all the staircases to the LRT station—along Macleod Trail and from Stampede Park—and in their place, adding new, accessible street-level pedestrian crossings at Macleod Trail to the station and street-level access across the LRT tracks into Stampede Park.
 

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