Officers responded to reports that multiple gunshots were heard in the Mimico Avenue and Lake Shore Boulevard West area at around 8:30 p.m.
Police also said there were reports that multiple people were fighting and that firearms were seen.
They later confirmed that one person was pronounced dead at the scene despite life-saving measures by paramedics.
In an update Friday afternoon, police identified the victim as 19-year-old Tenzin Rinchen from Toronto.
Another man suffered gunshot wounds and was taken to hospital in critical condition, police said.
Several police cruisers were seen in the area into the parking lot of Amos Waites park.
Anyone with information is asked to contact police or Crime Stoppers.
Chemi Llhamo is a community organizer. She told Global News while she didn’t know Rinchen personally, the Tibetan community is “grieving, shocked and heartbroken” by the incident.
“It’s just heartbreaking to see another young person lose their life,” she said. “And I don’t know much about the situation, but I do know that one of the root causes of crime is poverty and the lack of resources that the system fails to provide individuals, young people, communities, neighbourhoods, families.”
She said investments must be made to provide housing, food, jobs, guidance and mentorship for young people.
Llhamo said Rinchen was Tibetan, adding that the community has “gone through a lot.”
“We’ve gone through not just one, but multiple levels of displacement, (and) often times we come into this country as stateless refugees,” she explained.
“And so the fact that this young person has lost his life and there’s one in critical care is heartbreaking,” she continued. “I can’t even imagine the pain that the family is going through, because as a community, as someone who just has probably seen him in the community centres, we’re also just broken.”
Llhamo said the Tibetan community will now come together to pray for Rinchen and for the other person injured in the shooting.
“There will be a prayer here at the Buddhist centre (and) I’m sure we will have another prayer at our community centre.”
For now, Llhamo said the community is “just grieving.”
“We haven’t even had a chance to like process what’s happened,” she said.
-with files from Global News’ Ahmar Khan