“It will take some time to assess the damage and figure out the best way forward. We are aware of the historic nature of these structures and have taken many precautions to protect them while we renovate and restore them,” the statement reads.
No one was injured during the collapse, the developers say.
The building was originally constructed in 1890, when it was home to the historic Excelsior Mill. More recently, it was home to The Masquerade before the music venue relocated to Underground Atlanta.
The developers purchased the building in 2016. Earlier this month, they released renderings and their plans to renovate the property into office space.
In a statement released earlier this month, the developers said they planned to keep the historical integrity of the building in tact.
"The adaptation of the buildings combines contemporary and historical narratives," the release read, according to Curbed Atlanta.