The board of trustees at Ohio University has voted to demolish the century-old President Street Academic Center on its campus in Athens.

The Athens News reports that the decision to raze the building, which has been unused by the university since 2003, was made over the objections of city officials, preservationists and others.

The university intends to build a modern facility on the site for its college of business, but does not have funding in place to move forward with construction.

Proponents of preservation had urged the university to postpone a vote and reconsider renovating the shuttered academic center.

But university officials say the building's infrastructure--inadequate floor-to-ceiling heights, load-bearing walls in difficult-to-move areas--made it a poor candidate for renovation to meet the needs of the business school. A new facility that addresses those needs would cost an estimated $15.2 million.