It's now official from Inyo NF:

South Lake Parking Lot Repaving (Inyo National Forest): The South Lake parking lots will be closed from September 8, 2015 until October 30, 2015 (7 weeks). Boat ramp and trailer parking will not be available during the closure. Recreational vehicles and vehicles with trailers will not be permitted use of the South Lake Road beyond Bishop Creek Lodge during this construction closure. Roadside parking will be authorized along South Lake Road, down canyon from Parchers Resort. Please do not park at Parchers Resort or at Rainbow Pack Station unless you are a customer. Hiking access to South Lake, Bishop Pass Trail, and Treasure Lakes will be via Parchers Resort and the Rainbow Pack Station. It is approximately one mile to connect to the Bishop Pass Trail at South Lake from this location.