I think Junction Hollow and the Forbes bridge are still there. It is just a bit of an odd perspective in that at first look, the greenery on the slope on the western side of the hollow appears to have filled in the space. But if you look at the buildings on each side you can see that those are in fact slopes, which means there are in fact voids on either side of the bridge (which is defined by that wall past the "new road"):
This effect is enhanced by an apparent shadow line running along the wall on the south side of the bridge. I am going to declare that shadow line either a mistake, or perhaps a very unfortunate coincidence that the implied position of the sun combined with the precise location of the slope just happens to result in the bridge's shadow on the slope looking just like a shadow line running along the wall.
Anyway, if you look at the Master Plan, you can see the "new road" just on the other side of Tepper Quad:
But it isn't going far--just to a parking structure incorporated into the Tepper Building, I believe:
http://www.cmu.edu/piper/stories/2015/may/new-building-new-vision.html
Quote:
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Exciting. Cool. Interconnected. Entrepreneurial. Engaging. And how about, amazing! Those were just some of the words used to describe designs for the new home of the Tepper School of Business, the first project slated for the Tepper Quad on the Morewood parking lot site. Beautiful computer-generated renderings for the 295,000 square-foot, five-story marvel with underground parking — yes, parking for 200 — were recently unveiled . . . .
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That "new road" (really more of a driveway, I would suggest, once you know where it is going) appears just to be tracing the edge of the small promontory located between Hamburg Hall and the Central Catholic football field:
So, in short--I don't think there is a massive topography change. This is just a particular perspective and a sufficiently crude rendering that combine to make it hard to see the topography unless you know what to look for.