Don't know. By the sound of it, Vvardenfell was "destroyed", so even if there's something physically there, I doubt any of the older cities survived at all. It might have opened up to limited colonization, however, but by the sound if it people are still pretty distraught over it. I think it's still pretty screwed.
Now Solstheim, however, that I'd like to see what's happened with.
The older cities on the mainland are likely gone. Vivec city was destroyed when the Ministry fell on it, Ald' Ruhn was destroyed during the Oblivion crisis, Balmore was likely destroyed when the Volcano erupted, Ebonheart was likely destroyed as well and most other cities were irrelevant.
Most Telvanni cities however could have survived such things, they were mostly across the sea (with the exception of Tel Vos, which is likely gone as well) ruled by powerful wizards that could possibly do things like stop storms and tidal waves and all build relatively high. So you know, I don't see how those cities would have been destroyed. Especially when you consider that there is absolutely nothing to show even a slight effect on Skyrim or hear anything about Cyrodiil or the Black Marsh suffering from the eruption. Now with the eruption at least being 194 years ago, it should be possible to move back already. I don't see what's stopping the Dunmer. Sure it will take time, money and possibly a few lives to those damnable cliff racers (who are like rodents and just won't die out!!!!!) but all in all, Vvardenfell could be rebuild.
I don't know how bad the war with the Argonians still is though. I'd imagine something like that would take priority right now.