Police have arrested up to three people after an SUV crashed into a bus shelter at Queen Street West and University Avenue on Tuesday night.

Witnesses say a black SUV had been travelling at a high rate of speed when it was asked to slow down by police officers on bicycles near Queen and Yonge Streets.

They say the SUV sped off, running a red light at University and hitting two other cars and the bus shelter at the southwest corner of the intersection shortly after 8 p.m. A woman was trapped in the shelter before being extricated by emergency workers.

The glass from the shelter was completely shattered, a traffic light pole was knocked over and a hydro transformer box was taken out, giving the busy downtown intersection the look of a high-impact highway accident.

"It just made a loud bang, like fireworks," says Jason Ellis, who was on the scene with his brother when the crash happened. "There were tons of people everywhere. It could have been me. It could have been anyone that was here today. It was pretty busy."

After the crash, several men got out of the SUV and left the scene on foot, according to witnesses. Some said men were seen scrambling to collect money that blew out of the vehicle after the crash.

Police have confirmed that a man in his early twenties was arrested near Duncan and Richmond Streets. Witnesses say that two other people, possibly minors, were arrested at a nearby construction site at Simcoe and Nelson Streets.

A pedestrian and a passenger from one of the cars were taken to St. Michael's Hospital in serious, but not life-threatening, condition. Two other victims are in stable condition with relatively minor injuries.

The intersection was closed for hours while police investigated. Streetcar traffic on Queen Street was also halted in the area.