Authorities identified the victim as 47-year-old Anthony Vitelli.
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On Monday, police released new surveillance video that shows a shooter running through the parking lot of the Jefferson Court Apartments.
Residents were too frightened to talk with Action News on camera. One woman said she heard the gunshots and ducked for cover.
Police say multiple people were in the parking lot at the time of the shooting.
Norristown police and Montgomery County Detectives have since launched a joint investigation into the homicide.
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Authorities want to make note of the shooter's all black clothing, white gloves, and distinctive pink socks.
Police say he was last seen running toward Arch Street.
Vitelli was taken to the hospital with a gunshot wound to the chest. He died more than an hour later.
"It's very alarming. And it was just before the kids come home from school, and that's exactly where they get off the bus at that corner," said one neighbor.
Officials are offering a $5,000 reward for the identity of the shooter or any information that could lead to an arrest.