Update 4 p.m.
The situation has been resolved, police say, with the area around the 2800 block of Garfield Ave. S. open again to traffic.
According to Star Tribune reporter Libor Jany, the armed man was "coaxed out" by negotiators and led away to an ambulance.
Police are on the scene of a blaze in south Minneapolis, where an "emotionally disturbed" man is threatening to harm himself and first responders.
The Minneapolis Fire Department tweeted a fire on the 2800 block of Garfield Ave. S. Monday afternoon was possibly started by a man on the first floor who is believed to be "armed with an automatic weapon and a machete."
A Minneapolis police spokesperson could not confirm to BringMeTheNews the weapons the man has in his possession, but did say he is threatening to hurt himself and has made threats to harm emergency responders at the scene.
The blaze was reported as a possible structure fire around 2 p.m., and by 2:35 p.m. it had been knocked down, with fire crews letting police take over the scene to handle the possible fire starter, the fire department tweeted.
Police have evacuated the area and are denying entry while they try to de-escalate the incident, with the department saying there is no threat to general public safety.
This story will be updated as more information becomes available.