Friday morning's rainy weather has not seemed to help assuage a powerful fire that has overtaken at least one floor of a highrise at a busy downtown Toronto intersection.

There was a three-alarm fire at the site of the old Hotel Waverly on the corner of College and Spadina this morning - 📹 Rafi Ghanaghounian #Toronto #TorontoFire pic.twitter.com/veHGiAoBtl

— blogTO (@blogTO) December 4, 2020

The three-alarm blaze was active at the corner of College and Spadina, right near U of T student housing and a stone's throw away from the university campus itself.

Concerned parents will be relieved to know that the fire is in a building on the northwest corner, and not in the aforementioned CampusOne tower.

Buildings on fire at College and Spadina. #toronto @City_tv @CTVToronto @CBCToronto pic.twitter.com/VHpv9clreI

— Daniel Gilman (@DanielGilmanHQ) December 4, 2020

The structure in question seems to be at 484 Spadina, the former site of the historic 120-year-old Hotel Waverly, which, along with famed music venue the Silver Dollar Room, is currently being developed into condos.

With various crews on the scene battling the flames, morning traffic was stopped in multiple directions right in the midst of peak rush hour.

FIRE:(UPDATE)
College St + Spadina Ave
- updated to 3 alarm fire
- @TorontoMedics o/s if required
- unknown if any injuries
- police are o/s
- find alternate route of travel
- please avoid the area#GO2288671
^ep2

— Toronto Police Operations (@TPSOperations) December 4, 2020

The thoroughfare of Spadina Avenue was and remains closed to all vehicles, tranist included, in both directions. College Street westbound from the corner is also blocked as the situation continued, and remains so at the time of publication.

Along with Toronto Fire, Police are also on site, as are paramedics "if required," Toronto Police Service Operations tweeted out around 7:40 this morning.

It seems the fire was reported just slightly prior, shortly before 7:10 a.m.

pic.twitter.com/2lZIWtvE1B

— Nalgene (@FluidDishwasher) December 4, 2020

The exact cause of the incident is still unknown, but it seems that materials used for the ongoing construction on the 15th floor were somehow set alight.

The inferno later spread to lower floors, around the third and fourth, as a result of flaming debris.

Toronto Fire officials told toronto.com that the calamity was over by around 7:50 and that the building is now being ventilated.

Also, thankfully, that no injuries have been reported.

UPDATE: WB College now also CLOSED as crews battle this 3-alarm highrise fire. NB/SB Spadina remains CLOSED as well. #Spadina pic.twitter.com/Sz1X4PmB0U

— 680 NEWS Traffic (@680NEWStraffic) December 4, 2020

The investigation is ongoing, but commuters are advised to take alternative routes to avoid the area and Spadina specifically.

It helps that roads are already a mess due to the mix of rain and snow forecasted from early morning well into the afternoon across the city.