After 36 months in limbo, the stone covered house at the head of the University Bridge was demolished Thursday morning.

In a statement to CTV, property owner Remai Ventures says the company was left with no other choice. Remai points out Peter Shinkaruk had nearly three years to move the house.

Remai bought the property from Shinkaruk in April of 2008 to make way for a condo development. Shortly afterwards, Shinkaruk asked to move the house off the property. He was given a deadline of March 31 of this year.

After attempts to move it failed, and with Shinkaruk past his deadline, Remai Ventures says it must go forward with its plans.

The company regrets materials could not be recycled because the house wasn't safe to enter.