But before crews can take sledgehammers and bulldozers to the building, hazardous materials must be removed from the premises.
"There is asbestos, there is lead and other things in the old jail," said Bob Valleau, owner of Arctic Environmental Service -- the firm in charge of the demolition and removal of a range of hazardous materials.
"You have products like CFCs and freon in the walk-in-cooler and freezers," Valleau said.
Proper demolition work takes time and can be big business said Valleau.
"The budget on this job is $310,000," Valleau said. "About half of it involves the removal of hazardous materials."
Asbestos causes cancer and must be disposed of properly. It was used commonly in buildings until the mid 1970s said Valleau.
"The Romans used to make clothing out of it," Valleau said. In more modern times, it has been used in toasters and brake pads he said.
Aside from being fire retardant, asbestos is an excellent insulator and was used widely in the North, said Valleau.
Safety of the workers is paramount when removing the substance. They must wear protective gear, including a full body suit, a face mask, gloves and rubber boots.
At the end of each shift, workers shower to remove any particles that may be on their clothing.
The asbestos is wrapped in plastic and put in boxes before being buried in a designated section of the Yellowknife landfill.
Anything coated in lead paint will be shipped out of the NWT for disposal.
"The NWT has the most stringent lead regulations almost anywhere in the world," Valleau said.
CFCs and freon will be recycled for use in new freezers and coolers.