Photo: Wellington City Council
The building was given an earthquake rating of between 35-45 percent in 2012, and it is believed a new assessment would show it to be less.
A 25-percent New Building Standard (NBS) or less classifies a building as earthquake prone.
The initial plan was to strengthen the building up to 67 percent NBS (New Building Standard), but the cost of doing so rose from $50 million to $84 million.
That would require between $1.5 million and $3.8 million to be taken out of rates each year, for 35 years.
The cost of a new build was believed to be less than that, while the associated market rents would be higher.