A 54-year-old man is dead and another man was seriously injured after a shooting in Regent Park early Saturday morning.

It happened near Gerrard Street East and River Street at around 1:30 a.m.

Toronto paramedics say one man was pronounced dead at the scene while a second man was taken to a trauma centre in serious condition.

Det. Jeff Taveres said the deceased man was visiting the complex last night, as there was a major gathering of people in the Regent Park neighbourhood.

He said at least one suspect approached a group containing the victim and opened fire. The suspect then fled the scene on Gerrard Street East.

Taveres said the suspect’s behaviour leading up to the incident suggested the shooting was targeted.

“From what we are able to gather so far, the offender is walking toward the group with some sort of purpose, so that's why I don't suggest this is a random act,” Taveres told reporters.

He said the victim was not known to police.

A man who told CP24 he was in the area at the time of the shooting called the incident "scary."

"I just came here to visit a friend and… the shooting happened. I heard multiple gunshots go off," he said.

The name of the victim has not yet been released as investigators are working to notify next-of-kin.