Constantinos Tountas was shot and killed in the basement of a house he owned soon after he arrived, apparently to perform repairs.
Police received a 911 call around 9:50 a.m. reporting shots fired in a residence on 1st Avenue North, near Gouin Boulevard.
Upon arrival, they discovered the 45-year-old victim in the basement of the building with gunshot wounds to the upper body.
Officers attempted to perform CPR, but were unsuccessful. The victim was pronounced dead on-scene.
A 33-year-old man was taken into custody in connection with the death.
Although initally treated by as an "important witness," police said he is now considered the primary suspect in the case.
He is expected to face charges at Palais de Justice on Monday afternoon.
This is the city's 11th homicide of the year.