UPDATE: Croy Street Exchange fire ruled arson

HAILEY, Idaho (KMVT/KSVT) — The Croy Street Exchange was lost in a fire on Tuesday, March 16.

The building was uninhabited, as it was undergoing renovations. At the time of the fire, all that existed of the building internally was the wood skeleton.

According to Hailey Fire Chief Mike Baledge, firefighters encountered 40 foot flames when they arrived on scene. The structure collapsed less than 10 minutes later.

The State Fire Marshal says the investigation is ongoing, but the cause has been determined to be arson. He says there are persons of interest and the Bureau of Alcohol and Firearms is helping with the investigation.