One man is dead and another is in hospital in critical condition following a stabbing in the city's downtown core, police confirm to CP24.

It happened at an apartment building on Bleecker Street near Wellesley and Parliament streets at around 2:40 p.m.

Police say the stabbing likely occured inside the building, however the crime scene extends to the surrounding area.

"It appears as though the central location for the crime happens to be this building, but there are blood trails that lead from the building outwards," Sgt. Christopher Tracy told CP24 at the scene. "We have no idea who the suspects are at this time."

Both victims were rushed to hospital via emergency run, but one of them succumbed to his injuries a short time later.

The surviving victim suffered a stab wound to his neck, police say.

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