A 21-year-old man who was fatally shot in an overnight incident involving Toronto police in the city's entertainment district was wanted for a double murder.

The province's police watchdog, which is investigating the shooting, identified the man as Kwasi Skene-Peters late Saturday.

The shooting happened in the area Peter Street and Adelaide Street West. Toronto Paramedics say they received a call about the shooting shortly before 3 a.m.

Police had issued a warrant on July 10 for Skene-Peters in connection with the June 28 shooting deaths of two men at a downtown condo near Lisgar Street and Queen Street West. He was wanted for two counts of first-degree murder.

Police said at the time he was considered "armed and dangerous."

According to the Special Investigations Unit, the man was transferred to the trauma centre at St. Michael's Hospital and succumbed to his injuries at 3:59 a.m.

The SIU says there was "some type of altercation between the officers and the man, and the man was shot."

It is still unclear who fired the shots.

Witnesses say as many as 12 gunshots were heard early Saturday morning.

"We thought it was firecrackers," Jody Copeland told CTV Toronto. "It sounded like a whole bunch of shots going off."

Video taken by witnesses at the scene and later posted online appears to show some type of altercation between police and a group of men. No shot is heard in the video. It was taken just steps from a packed nightclub.

In another video, people can be heard repeatedly yelling at officers, and asking, "Why would you guys shoot?"

CTVNews.ca spoke with Meraj Imanim, a neighbour who lives on the 30th floor of a nearby condo building. Imanim says he woke up when he heard what he thought were fireworks.

"I heard what turned out to be shots," Imanim said.

Imanim says he took our his binoculars and saw “a couple” police officers performing CPR on a man.

The SIU said it has assigned five investigators and four forensic investigators to probe the circumstances of this incident.

The SIU is an arm's-length agency that investigates cases involving police where there has been death, serious injury or allegations of sexual assault.

Anyone with information about the case is asked to contact the lead investigator at 1-800-787-8529, extension 1886.

With a report from CTV Toronto's Heather Wright