Officers responded to calls of shots fired in the area of East South Street and Austin Avenue near George Washington Elementary School at 3:15 p.m. Wednesday.
When police arrived, they found a 24-year-old man with multiple gunshot wounds. He was taken to the hospital shortly after where he was treated and released.
Investigators say with the assistance of witnesses and surveillance video, they were able to make the arrest.
Police will not be identifying the suspect due to his age.
Washington Elementary was placed on a brief lockdown as a safety precaution.
Officers say this was an isolated incident and no one at the school was involved or injured.
The video above is from an earlier story and will be updated.