A 32-year-old man known to authorities has died in what Vancouver police said was a targeted shooting.

The shots rang out in the 900-block of Wallace Wynd in Port Moody just after 10 a.m. Saturday.

In a press release, Sgt. Randy Fincham of the Vancouver Police Department said the victim was rushed to the hospital with gunshot wounds, where he died from his injuries shortly after arrival.

Police said the victim, who has not been identified, lived at the address.

CTV news has learned the house is registered to Brian and Heather Markel.

Court records show a man named Joseph Allan Markel, who was born in 1979, has an extensive criminal record, including drug possession.

Fincham wouldn’t confirm the identity of the victim, but said it appears the attack was a targeted hit.

The shooting is Port Moody’s third homicide this year. It is also the third shooting in Metro Vancouver this week.

Residents in the peaceful Port Moody neighbourhood seemed shocked, but not overly concerned by the incident.

“I talked to one of the guys across the street who's been here 50 years and he says it’s the first time there's ever been a shooting in this neighbourhood in 50 years,” one man told CTV news. “It’s usually pretty safe.”

Police said there is no reason for residents to be concerned.