An 84-year-old man has died after a daytime stabbing in Mississauga that also sent his 80-year-old wife to hospital.

Police say the double stabbing happened in a residential area on Stillriver Crescent, near Creditview Road and Britannia Road West, at approximately 1 p.m.

Upon arrival, police found the husband and wife suffering from life-threatening injuries. Both were transported to Mississauga's Credit Valley Hospital, paramedics said.

"When we arrived on scene, two victims, one male and one female, had life-threatening injuries," Const. George Tudos told reporters at the scene.

In a tweet sent Thursday night, a police spokesperson said the man has died. His wife is expected to recover.

It's believed the 21-year-old suspect fled the scene after the stabbings.

As police scoured the Mississauga neighbourhood for the suspect, Hazel McCallion Senior Public School, Willow Way Public School and St. Joseph Catholic Secondary School were in a hold-and-secure. The lockdowns have since been lifted.

"Our canine officers along with tactical officers and numerous uniformed flooded the area, set up a perimeter," Tudos said.

About an hour and a half after the double stabbing, police said a male suspect was in custody. He has been charged with first-degree murder and attempted murder.

He was later identified as Trae Worrie, 21.

Anyone with more information is asked to contact police at 905-453-2121, ext. 3205, or Crime Stoppers anonymously at 1-800-222-8477 (TIPS).

Stabbing in Mississauga

With a report from CTV Toronto's Naomi Parness