Ulster University purchased the site in January 2019, but works did not get under way until earlier this year.
Many of the non-listed structures have already been demolished and cleared, but the future purpose of the site has not yet been decided.
Speaking about the works, a spokesperson for Ulster University said: “We are exploring options for the lands in line with our wider estates strategy and our vision for the Magee campus.
“Current work on site consists of the demolition of non-listed structures.”
In December 2020, Foyle MLA Mark H Durkan appealed to Ulster University to address chronic parking shortages in the area around the Magee campus, which followed on from an appeal to use the acquired land at Duncreggan Road to facilitate a free temporary parking arrangement.