It’s out with the old, in with the new on Dartmouth Street, as demolition work has begun on the former Gifford Marine building.

Demolition crews began tearing down the 31,283 square-foot warehouse, located at 676 Dartmouth Street, on August 23. The building, once occupied by a boat dealer, has been vacant for the past few years.

It is the future site of a new apartment complex for seniors. Developer Claremont Companies plans to build a 55-unit apartment building on the site, which the company purchased for $1.15 million in 2011. Claremont also owns the nearby Solemar apartment complex.

The three-story building will include an underground parking garage, outdoor parking area, a fire pit in the back along with a seating area, a gym, and the use of transportation and recreation services provided at the Solemar location.

The Planning Board approved the project in May. At the time, Claremont Companies CEO Patrick Carney said the company is looking at a 2019 completion date. Apartments would be priced at between $1,500 for a one-bedroom apartment through $1,700-$1,800 for two-bedroom apartments.

Under the terms of the town’s senior housing bylaw, which the project was approved under, apartments are limited to those age 55 and older.