A 12-storey office block is being razed to the ground in the hope it will speed up the proposed regeneration of the Gateway site.
Wettern House in Dingwall Road is being pulled down and Croydon Business' chief executive Angelina Purcell got behind the controls of a digger to help demolish the building.
The office block was built in the 1960s but its owners Stanhope and Schroder are spending around £1million to demolish the building in the hope it will speed up the redevelopment of the Gateway site next to East Croydon station, a large part of which has lain vacant for more than four decades.
Stanhope already owns or controls much of the Gateway site but does not have planning permission for its proposals to create a mixed development of offices, flats, cafes and restaurants, a 4.5-acre park as well as a new home for the Warehouse Theatre.
The council's preferred developer, Arrowcroft, has been granted planning consent to build a similar scheme which includes a 12,500-seat arena.
Stanhope submitted a revised application earlier this year, which includes an increase in the amount of affordable housing on the site, a GPs surgery, improved access to the site north of Lansdowne Road and a reduction in parking spaces, in response to previous objections.
Ms Purcell lent her support to the demolition of Wettern House in the hope it leads to quicker progress on the site.
She said: "One of our major concerns is not to have barren areas of land in the town which send out the wrong message about our vibrant borough.
"Let's hope that those involved in developing this important site can quickly reach an agreement to get work started on this important site."
A planning inquiry into Stanhope's application is due to open in the new year.
