Damage is pegged at $630,000 from an Exchange District blaze that gutted three buildings Thursday.
Demolition crews moved in later Thursday night to tear down the remains of three buildings - structures that housed the Keng Hong restaurant, War on Music record store and a historic home.
Firefighters had battled the inferno for multiple hours as smoke filled Winnipeg's downtown on the morning of April 19.
Elizabeth Hart-Maxwell is one of the co-owners of War on Music.
The record shop was a co-operative venture. Hart-Maxwell said the store does have insurance and is considering re-opening soon, possibly setting up in Osborne Village.
Ken Zaifman, the owner of the buildings, said he intends to move ahead with previously announced redevelopment plans, despite the fire's damage.
"It's not the way I planned on redeveloping the property," said Zaifman.
He said the property will become a part of his planned redevelopment of the nearby St. Charles Hotel or may even become the site of condos.
Zaifman hopes to have plans in place within a year but hasn't set a timeline for when work could start.
Officials with Heritage Winnipeg hope development work moves ahead soon.
The Manitoba Office of the Fire Commissioner said the cause of the fire has been deemed accidental.
Investigators believe it was sparked by an extension cord or power bar inside the record store.
- with a report from CTV's Jon Hendricks
