COCONUT GROVE (CBSMiami) – As the walls came tumbling down on Tuesday, spectators watched and expressed mixed feelings about the demolition of the  iconic Grand Bay Hotel in Coconut Grove.

This piece of Miami’s history is being torn downtown make way for a future $400 million dollar pair of glass condo towers.

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The Grand Bay opened its doors back in back in 1983 to serve as hotel and held the Regine’s nightclub. With its sleek pyramid structure, Grand Bay became a hot spot for tourist in South Florida.

“It was a beautiful hotel. Very, very active,” Tony Tremols, a Coconut Grove resident since 1984, told the Miami Herald. “It was a landmark.”

The once Mobil five-star rated hotel would later sit empty for years due to foreclosure.

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Julian Fernandez, who works nearby, told the paper that he has high hopes for the post-Grand Bay site, set to begin construction in the spring.

Another bystander, Alfredo Guzman, told the Herald that he didn’t think that the destruction of the building was necessary.

“I don’t agree, but what can I do?” he asked as the wrecking ball smashed into the building. “I don’t believe in destroying to build all the time. It never stops.”

The condo towers are expected to be opened in 2014.

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The Miami Herald has contributed to this report.