Acting Superintendent Sunny Patel said the gunman entered the construction site at 7.22am today.
“The offender has moved through the building site and continued to discharge his firearm. Upon reaching the upper levels of the building, the male has contained himself within the elevator shaft and our staff have attempted to engage with him.
“Further shots were fired from the male and he was located deceased a short time later.”
Patel said the shooting was not being treated as a national security risk.
A police officer was among those hurt but was able to walk to an ambulance, assisted by colleagues.
A distressed construction worker told the Herald he encountered the gunman on the stairs of a property under development at about 7.20am.
A volley of gun shots were also heard near the scene at 8.08am.
Several workers at a building site could be seen crouching behind piles of building materials near where armed police are gathering.
It is understood the drama was centred at 1 Queen St, a Precinct Properties building which L.T. McGuinness is working on. Matt McGuinness confirmed to the Herald it was his site the suspected gunman was on.
“I’m from South Africa … we left there not to have this,” one construction worker said.
Several roads are closed in the CBD including sections of Lower Hobson St, Quay St, Queen St, and Lower Albert St.
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Earlier today members of the public were being told to seek shelter at the HSBC Tower.
Fullers said all ferry services suspended until further notice.
Police are asking the public to “move on” and stop crowding around the scene.
A woman watching the scene said she was evacuated from Commercial Bay.
Police are telling people to go home, “you won’t be going back in there”.
Train services are still running and customers can still exit Britomart via the Takutai exit located towards the tunnel end of each platform.
Commuters are told to expect major delays to all public transport.