Investigators say they are still trying to track down the driver involved in a hit and run in Calgary's Beltline on Thursday morning.

At around 9:30 a.m., four or five men were walking together along 15 Avenue, near 4 Street S.W. Witnesses say there was some type of altercation that took place between the group and a passing car, but the vehicle drove away from the scene.

A few moments later, the driver returned, driving straight at the group of pedestrians.

The majority of the group managed to get out of the way, but one man was struck and seriously injured.

Following the incident, the vehicle and the remaining men all fled the scene.

Residents in the area say the impact was extreme and the whole situation seemed rather suspicious. Joseph Keesick said he was awoken by the sound of the crash.

"I live on the fourth floor up there, facing out this way, and where he hit the ground was in front of that black Jeep over here. I saw a couple guys running away from the scene, which kinda looked a little suspicious."

Police haven't said whether or not they believe the crash was intentional, but say the victim was taken to hospital in serious, life-threatening condition.

“There was a group of pedestrians walking westbound on 15 Avenue. A grey car then was travelling eastbound on the roadway, drove towards the group of pedestrians, striking one of them and then fled the scene. The victim was taken to Foothills Hospital with serious life-threatening injuries and the suspect is still outstanding,” said CPS Acting Sgt. Dave Dentandt on Thursday.

Police say they located the vehicle involved in the crash on Thursday a short distance away from where the incident took place, but they are still trying to find the driver and occupants.  There could have had as many as three people inside.

The victim, a man in his 20s, has not been identified.

The investigation is ongoing.