DAYTONA BEACH, Fla. -

City officials are closing the Daytona Beach Pier Monday night to repair the Space Needle after a section broke off and fell onto the pier over the weekend.

According to city officials, a rusty piece of metal fell off of the Space Needle on Saturday afternoon and is currently taped off. The pier closed Monday at 9 p.m. and the demolition was set to begin at midnight.

The Space Needle is approximately 43-years-old and hasn't been functioning since 2005 because the ride wasn't generating enough money. The pier will reopen Tuesday morning at 7 a.m. and will close again Tuesday night at 9 p.m. Crews will work during the overnight hours for the next three to five nights to dismantle the 166-foot structure, according to a release.

While the overnight demolition takes place, the pier is expected to be open from 7 a.m. to 9 p.m. The cost of the emergency demolition is approximately $60,000, officials said.

“Keeping our residents and visitors safe is our number one priority. We are working as quickly as possible to remove the Space Needle,” said Daytona Beach Mayor Glenn Ritchey in a release.

A proposal from Daytona Slingshot company that would construct a large slingshot on the pier included the removal of the Space Needle.

Residents said they are enjoying the last few days of the Space Needle being in tact.

"It's been a landmark here for some time," said Brenda and Terry Prince. "My children still think of it, but their kids won't see it so it's sad."