HAILEY, Idaho (KLIX)-The cause of a fire that destroyed a building under renovation in the town of Hailey is under investigation.

According to Hailey Fire and Rescue Chief Mike Baledge, fire crews were called out at around 5 a.m. Tuesday to the Croy Street Exchange building a block west of Main Street. When firefighters arrived they found the building engulfed in flames. Chief Baledge said the building began to collapse within minutes of their arrival.

Crews then worked to protect nearby buildings from the flames. Chief Baledge said they were able to save the building with some damage to their exterior. The Croy Street Exchange had been under renovation and was gutted on the inside down to the studs.

At one point a total of 13 engines and roughly 45 personnel from every fire fighting agency in the Wood River Valley responded to the blaze. Chief Baledge said the Bureau of Alcohol, Tobacco, Firearms and Explosives is investigating the fire because of the estimated $2.2 million dollar value of the building.

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Croy Street Exchange Fire