Lowestoft's only tower block is to be torn down after a council said it would cost £23m to maintain the building.
Residents of the 16-storey St Peters Court are set to be rehoused over the next 12 months ahead of the building being demolished
It follows East Suffolk Council having taken "the difficult decision" to demolish the town's only high-rise block of flats.
Dating back to the 1960s St Peters Court dominates the Lowestoft skyline.
But after a survey recently revealed significant repairs are needed, the council has been considering the future of the demolition-threatened tower block.
Tenants were invited to attend drop-in sessions with council officers and councillors at the tower block last month.
Here residents learnt more about the issues and gave their views on proposals - including undertaking the necessary works.
An East Suffolk Council spokesman said: "More residents expressed a preference for demolition and, overall, two-thirds either supported this approach or would be content whatever decision was taken."
The 16-storey block of 90 two-bedroom flats - whose residents are mostly council tenants - is constructed over 15 floors with six flats on each floor.
Last month the council said that "over 20" flats are currently "vacant at present."
At a meeting of East Suffolk council’s cabinet on Tuesday evening, the decision was taken to move tenants into new accommodation prior to the demolition of St Peters Court.
The council spokesman said: "The building has been undergoing an extensive improvement programme, and as part of this, a full survey of the building indicated that a further ongoing programme of repair and refurbishment would be required.
"The estimates indicate an initial cost of £8,835,088 in year one and an average cost over 30 years of £8,652 per year, per dwelling.
"This equates to £23,361,239 investment over 30 years to keep the building safe, compliant, and to a habitable standard, based only on today’s building safety regulations and not considering future amendments."
The council said that over the next 30 years "the building would generate a deficit of -£2.5m" - meaning this would significantly reduce the council’s ability to invest in the rest of the stock or continue to renew homes.
The council spokesman added: "Comparatively, initial estimates suggest a new build medium-density scheme on the same site could provide a return on investment after 25 years."
This will now see a regeneration project team created "to consider all potential options for the site" and these will be presented to the council's cabinet for consideration.
The spokesman added: "The council will now begin a managed process, in a carefully planned way to move residents into new accommodation over the next 12 months and then demolish the building."
'Tenants realise that its time has come'
David Beavan, East Suffolk’s cabinet member for housing, attended the drop-in sessions last month where he spoke with tenants.
Cllr Beavan said: "The last thing we wanted to do in a housing crisis was knock down 90 of our council flats, but we have little choice.
"Ballpark figures are that we could spend £9m getting St Peters up to the required standard and give tenants another 10 years in their homes, albeit disrupted by building works.
"Or we bite the bullet, making the difficult decision to demolish, then deliver new sustainable council homes to rent for another 100 years.
"We don’t want to kick this can down the road for another administration to sort out.
"We are not afraid to take this hard decision in the best interests of Lowestoft people.
"We know that these are not just bricks and mortar but homes to 60 families.
"The Court was once a great community, held in affection by local people, but tenants realise that its time has come.
"I guarantee that all tenants will be offered alternative appropriate social housing in Lowestoft.
"Nobody is going to be exiled unless they want to move."
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