The following website says that Markley’s roof will be replaced this summer. If that is correct it looks like it won’t be torn down, but I have no real information. http://www.umaec.umich.edu/projects/all-projects/#
I hope that would remain open as it is hard to replace near 1200 dorm spaces. With the Munger open this Fall, they may shift more undergraduates to NW1-3.
As an aside, if anyone wants to see what the weather is like in Ann Arbor on a particular day, the site I gave above has a live webcam showing Munger. Since my son lives right by it in South Quad, I take a look occasionally to see the snow.
@2135ar Are you trying to scare away potential students from the South? Today is not a good day to provide that information. 
Not trying to scare anyone away. My son is from Arizona and had never seen snow before. Well he has now! He’s doing fine. This is a better link (for sunnier days). http://www.umaec.umich.edu/projects/major-projects/munger-graduate-residencies/web-camera/
Snow is not the problem. It is the -30°F windchill today.