Coordination problems are a major issue for urban renewal. In Israel we have a methodology loosely translated as evacuation-construction, Where the city coordinates the rebuilding of a whole row of buildings. The apartment owners get new apartments in the new buildings and it is beneficial for them in the long run. The law has provisions for allowing the project to go forward even with approval of just 80% of owners, which prevents individuals from blocking the whole project. The new construction is done according to new building codes (like safety in case of earth quakes). The main losers are renters which have to move out and don't gain anything, but other than that it's considered beneficial. Seems like a reasonable way to solve the coordination problem.