Hmmm ... what am I missing here. The units are functional. Why wouldn't they continue to be functional while one unit at a time is upgraded. Effectively, this is what is happening to a small extent with building H.The cost to a 2BR owner, if billed as a direct special assessment, is estimated at about $8900 per week owned. That's about $445K per condo (assuming 50 weeks), give or take a few thousand. (In my book, that qualifies as mid-six figures.)
Bulldozing and rebuilding is probably not going to be significantly cheaper, nor will it be fast. How many owners will keep paying on a property that they can't use for a few or maybe even several years?
And that's why the termination vote was proposed: Sell the whole thing, lock stock and barrel to someone else, and distribute the proceeds. To me, it is the only option that makes any sense at all--at least for the interval/timeshare owners. The calculus may be different for whole owners, but that's going to vary by individual.
I'm not saying this is cost effective use of our maintenance fees or that we can withstand this level of maintenance over time, but at least we will still be able to use the buildings that are serviceable while major maintenance in performed on a different building.