Alberta's police watchdog is investigating an officer-involved shooting by Calgary police in the southeast community of Inglewood on Friday that has left one person dead.

A large police presence responded around 8 p.m. to a condominium building at 63 Inglewood Park S.E.

Police responded at about 8 p.m. Friday. (Mike Symington/CBC)

Police said at a news conference they responded to a call of four people in a secured underground parking lot. They blocked exits and began to search the area when the suspects entered what was later determined to be a stolen vehicle, police said.

Calgary police Chief Roger Chaffin noted he had limited details to provide pending the ASIRT investigation. But he did say the incident "escalated quickly" and an officer shot the driver of the vehicle, who was later pronounced dead at the scene, while three were taken into custody uninjured.

A total of three people were taken into custody in the incident. (Mike Symington/CBC)

He said the deceased was known to police and had an extensive criminal record.

"Our officers follow their training and do their best to resolve situations peacefully," Chaffin said.

He said the officers involved had between two and nine years of service with the force.

(Mike Symington/CBC)

A resident of the building said the incident makes him feel less secure.

"This is absolutely nuts. I saw all of the police cars when I pulled in in the taxi, I had no idea what was going on," Andrew Dominy said.

He said there were reports of a break-in at the building Thursday.

Andrew Dominy lives in the building. He says the incident makes him feel less secure. (Mike Symington/CBC)

Chaffin said it's been a challenging time for police recently.

Just this week they devoted a large number of resources to an Amber Alert investigation that launched after the body of Sara Baillie was found in a basement suite in Panorama Hills on Monday, and her 5 year-old daughter Taliyah Marsman was missing.

Taliyah's body was found just after 7 p.m. MT Thursday in a rural area about 8 kilometres east of Calgary, a blow to investigators who had worked around the clock to find her alive.

"It is a busy time but this is nature of policing," Chaffin said. "It is a tough time but officers cope well."