this post was submitted on 06 Jul 2023
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Insurance cash?
It was already approved for development of an apartment tower. Not sure if they’d actually be able to claim anything from insurance when they existing buildings on the site were going to be demolished anyway. You can recover some material to sell as scrap during demolition, but the price of cleaning up the mess after the fire is surely worse than what you’d stand to gain from insurance on buildings you were going to demolish all along.
The insurance companies would also be looking at any claim pretty closely. I assume commercial buildings have clauses about security, buildings being used etc. just like house insurance does. Vacant buildings do often burn down, but I think it is more likely to be squatters and arson for "fun".
Yeah, I think general arson is most likely. An insurance job doesn’t add up, and I don’t think they were storing hazardous material there that would randomly catch on fire.