Toronto has been glued to Twitter this afternoon after heavily armed police appeared on the scene at a King Street business.

Toronto Police are currently raiding former Cannabis Culture location 365 Dispensary on King Street West! More wa… https://t.co/IgHYEZL4YD pic.twitter.com/RtS8fe3H2H

— Dankr.ca (@Dankr_Cannabis) October 26, 2017

Reports have come in that a person with a gun is currently inside of the former Cannabis Culture marijuana dispensary in the King and Charlotte area.

WATCH: Police say a 911 call reported someone with a gun forcing someone into a dispensary on King St pic.twitter.com/cMXVJF0EMG

— NEWSTALK1010 (@NEWSTALK1010) October 26, 2017

Some are saying that a hostage was pulled in by the suspect, but this has not yet been confirmed by police.

UPDATE: Hostage situation in Downtown #Toronto. Man with gun reportedly forced a person into 365 King Street West. Major police activity. pic.twitter.com/DOpLJdCFF0

— Nathan Sing (@nathan_sing) October 26, 2017

Foot traffic and vehicles are being turned back, and King is closed between Charlotte and Blue Jays Way.

People being forced to walk around as closure on King Street continues pic.twitter.com/VvhkdzwEep

— Courtney Greenberg (@CourtneyGBerg) October 26, 2017

The 504 streetcar is being rerouted and turning back at Church in the east and Spadina in the west.

King Street closed in Toronto. ETF on scene due to reports of person with a gun. View from @Snapchat Stories: pic.twitter.com/cCUwtPLyl6

— James Wattie (@jameswattie) October 26, 2017

The 501 and 514 Cherry streetcars have also been re-routed.

Potential hostage situation at king and charlotte. Police is speaking on a loudspeaker #toronto pic.twitter.com/UTpv5XQHTH

— Olivia Blackmore (@Olivia_blckmr) October 26, 2017

Local media have arrived on the scene and it seems the entire city is transfixed, watching to see how the events are going to unfold.

An armoured vehicle has just arrived at King and Peter pic.twitter.com/PnO0Mj29iL

— NEWSTALK1010 (@NEWSTALK1010) October 26, 2017

The area around King and Charlotte would typically be packed with a mix of office workers, residents and tourists on a Thursday afternoon.

UPDATE: Armoured black vehicle arrives at King & Peter in Toronto for potential person with gun & hostage situation https://t.co/lhjPBe2GaT pic.twitter.com/kycSQCAjfm

— 570 NEWS - Kitchener (@570NEWS) October 26, 2017

The area is home to a number of condos, office buildings, popular retail stores like MEC, restaurants and bars including Calii Love and the Underground Garage, and is also close to many tourist attractions.

Picked a nice time to spend the day in #Toronto. Police outside a store talking to a man armed with a weapon. pic.twitter.com/dn5Q940vPu

— Ken Hashizume (@khash27) October 26, 2017

Update

Toronto police have now announced that the situation was a false alarm. No person with a gun was found inside the building. King Street is being reopened and streetcars are resuming normal service.

UPDATE:False alarm, the area is safe and all roads are now open. Thanks to everyone for their patience while we invest'd this serious matter

— Toronto Police OPS (@TPSOperations) October 26, 2017