The suspect in a Friday morning shooting in Mississauga that saw a man in his 50s airlifted to hospital may still be armed and holding out inside a home in the neighbourhood.

Peel Regional Police say the shooting happened on Beacon Lane, in the area of Creditview Rd. and Hwy. 403, at around 10 a.m.

Cops say they received reports that two males, who are neighbours, were involved in an altercation immediately before the shooting.

The victim was in critical condition but his injuries are now believed to be non-life threatening, police said.

Nearby St. David of Wales Separate School was placed under a hold-and-secure order as a precaution.

“We do have information on the suspect and we are currently trying to make contact with him,” Acting Sgt. Sarah Patten told reporters at the scene.

“He is still possibly believed to be armed and negotiations are underway. It is my understanding he is in a residence.”

Patten said officers do not consider the incident to be a “barricaded person as of yet,” as they are still trying to make contact with the suspect.

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“We are asking anyone to please avoid the area if possible,” Patten said. “If you are inside your residence and don’t necessarily have anywhere to go at this time please stay in your residence.”

Patten added that police believe both the suspect and the victim live on the same street and were known to each other.