Chau Chak Wing building will mostly be used for postgrad business - e.g., MBA.
Your timetable will probably stay as it is, and if they make any changes to your classes, they'll send an email to your UTS webmail.
Your timetables should already have the new buildings if your class is assigned to it. (e.g. I am a Science student and my timetable already shows me in the new Thomas St Building).