A 22-year-old Ajax man faces 10 firearm and drug possession charges.
Toronto police arrested Costain Matthew on Sunday after a search warrant was executed on a home on Monroe Street.
Members of the Gun and Gang Task Force entered the home on Monroe Street and chased a man up the stairs. He entered one of the rooms and officers ran after him, locating him on the balcony where he was allegedly discarding a firearm.
According to Toronto police, a loaded handgun was located on the adjacent rooftop.
Matthew appeared in court at Old City Hall on Sunday.