Police also responded to reports that during the same incident of a man on the roof of a building in the Ormeau Road area.
The PSNI say a 56-year-old man was arrested on suspicion of attempted criminal damage and attempted arson with intent to endanger life on this morning.
He has been taken to the PACE custody suite at Musgrave PSNI station.
A police spokesperson said: “Emergency services remain at the scene at present.
“The man has been taken into custody where is currently assisting officers with their enquiries.”