Vancouver Police say that the cars collided at around 1 a.m., with one vehicle subsequently crashing into a building adjacent to the corner.
The injured man, an innocent bystander, was on the sidewalk and was caught in the collision.
Emergency workers pulled the man from wreckage inside the building.
Heidi Berndt, who lives in a nearby building, says it sounded like a transport truck flipping over and that the screeching impact awoke everyone in the area.
Berndt immediately went outisde to see what had happened.
"What I saw was a car inside Odenza Homes and just shattered glass everywhere and the car that had been hit was crushed," she says.
The vehicle that struck the building was driven by a 23-year-old woman from Langley. The other driver is a 49-year-old woman from Vancouver.
Both drivers were sent to hospital to be treated for minor injuries. One has since been released.
Police are continuing to investigate what caused the accident and believe that alcohol may have been a factor in the accident.