Around 80% of demolitions were at properties for holiday rental.
The demolition would restore what there used to be: two separate buildings.
The Son Banya shanty town is home to Majorca's most notorious drugs clans.
The electricity company says that there are environmental risks from potentially hazardous waste.
The Monport apartments are part of the "caso Andratx", the investigation which sparked off many other corruption investigations.
The damage was caused by a single rock that weighed between 20 and 30 tonnes.
Members of 22 Palma residents associations are going to stage a mass demonstration outside the town hall.
Where, it is being asked, will more than 400 gypsies from Son Banya go? Those affected wonder who would want them as neighbours.
Despite the Council of Majorca reconsidering the status of the monument, Palma town hall believes it will reject giving it protection.
Carlos Zayas, one of first socialist deputies of the new democratic era after Franco's death, says that he is not in favour of the monument disappearing.
The 170,000 euros cost for the demolition could be met almost in totality from the 50,000 euros annual contributions to political parties from the town hall.