According to reports, the incident occurred at 8.15 am, while Jude Corbie was walking with his three-year-old nephew along Pelham Street in Belmont.
The pair was headed to a nearby shop, when a car slowed near them.
A man in the vehicle pointed a gun at Corbie and opened fire, shooting him several times about the body.
The car then sped away.
Residents contacted police and Emergency Health Services, but Corbie was already dead by the time they arrived.
His 3 year old nephew remained uninjured.
Police said investigators are working on the theory that Corbie’s killing was linked to a dispute he had with another man on Friday night.
They are currently searching for that man.