Despite efforts to save the oldest commercial building in downtown Waterford, it looks like it will soon be torn down.

The former Joe's Auto Parts store, also known as the Junction Building, was heavily damaged Wednesday night, after a corner of the building collapsed.

Built in the 1800s, Benny Hunt purchased the building three years ago with the intent of restoring it.

However, it's expected to cost anywhere from $500,000 to $1 million to fix.

Unless donors come forward with funding, Hunt says it's most likely going to be torn down.

“Everybody has been really kind and supportive and I appreciate that,” said Hunt.  “But, in the end, it all comes down to money and if you don't have the money, well, you're not going to be able to do the things you need to do for the building."

Hunt is expected make a final decision within the next several days.