FORT LEE, N.J. (CBSNewYork) – Demolition crews are tearing down an apartment building in Fort Lee that was gutted by fire last Thursday – leaving over 200 resident without a home.

Heavy machinery was used to take down and move the foundation of the five-story building on Edwin Avenue.

Fort Lee apartment complex torn down after fire. (Credit: CBS2)

Chopper 2 was over the scene last week as flames and smoke poured from the building. Many residents called the apartment building home for more than 30 years.

MORE: Residents Rescued After Fast-Moving Fire Rips Through Apartment Building In Fort Lee

Now the city of Fort Lee and the demolition company wants to help those displaced by the fire.

(Credit: CBS2/Eric Anderson)

“We have some value in some scrap metal so what I’d like to do is donate 25 percent of the scrap metal from the Caravella companies and the Caravella family to the victims,” John Caravella, the president of Caravella Demolition said.

The city of Fort Lee has already raised more than $26,000 through a GoFundMe page for the residents.