A little elbow grease later, the old powerhouse is revealed

I am so sad! This summer when I came back from school, my friends and I took a mandatory trip over to the old navy base only to find this place surrounded by a chain link fence.
In high school we used to always find our way in exploration to visit the old powerhouse, and it was our building-friend.
What is going on? Is it set to be demolished?
It is an awkwardly pretty looking building... I hope it doesn't go.