The 20-week bulldozing work at Teville Gate multi-storey car park in Worthing has continued after asbestos checks were carried out.
Work began on the site two weeks ago and it is being knocked down storey by storey.
Mosaic Global Investments Ltd purchased Teville Gate, which dates back to the 1960s, in 2015.
The company aim to have a mammoth multi-purpose complex in its place by 2021.
Bosses have scheduled out plans for 375 apartments, a gym, supermarket, and a range of restaurants and cafes at the site in Teville Road in a bid to modernise Worthing.
Worthing Borough Council chiefs have previously said the move will help catapult the town into the 21st century.
It would have cost £2 million to keep Teville Gate operating for the next four years.
Demolition work began in March after the council approved plans for it to begin soon last September.
Once it is finished, the council plans to turn the land into a temporary car park before the major development work begins. The site was closed in January.
The demolition, being carried out by specialist Hughes and Salvidge, is costing £1.6 million.
It has been funded by the Local Growth Fund, provided by the Coast to Capital Local Enterprise Partnership.