Many townhouse HOA's cover the cost of roofing and siding in order to maintain and ensure the appearance of the units. The cost is shared among all the owners, and the money is built up over time through "reserves" which are included within the regular monthly dues. If either the cost exceeds the budgeted amount, or the HOA has not gathered sufficient reserves, then there is often an assessment to cover the cost. For an oversimplified example, let's say reserves were $6,000 per unit, but the cost was $7,000. Each unit would be assessed $1,000. This would be payable either as a lump sum, or often over a period of 2-3 years.
For a community like Twin Lakes, this would be many years from now. I have some clients who bought a new townhouse there 2 years ago, and so far they have been pleased with the quality of the construction.