Witnesses reported gunshots near East 5th Avenue and Commercial Drive just before 7 a.m.
Sgt. Randy Fincham says police arrived to find one man in the street suffering from a gunshot wound.
They found another shooting victim in the lobby of a nearby apartment building.
The victims were both men in their 20s.
Fincham says one victim remained in stable condition in hospital Sunday and the second was in serious but stable condition.
No arrests have been made and the investigation continues.