One person is in hospital after being stabbed multiple times at a condo tower in the Fort York area downtown.

Toronto Paramedic Services said they were called to a building on Fleet Street, in the area of Bathurst Street and Lake Shore Boulevard, at around 1:12 a.m. for a stabbing.

Toronto police said they responded to reports of two people in an argument at a residential building and that the victim sustained multiple stab wounds.  

Paramedics transported one person to a trauma centre in serious condition.

The suspect fled, but was later arrested, police said.

Several police vehicles could be seen outside the building early Wednesday.

There is no word on what led to the argument.