It happened around 4:20 p.m. Monday along the 2500 block of North Stanley street.
The 23-year-old man was stabbed multiple times in the chest.
He was rushed by police to Temple University Hospital for treatment.
Police say the suspect ran inside a home along the block and held police at bay for nearly 2-hours.
SWAT officers apprehended a male once entering the home, but it's not clear if that person is the suspect.
Police are looking into the possibility that tossed water balloons caused the attack.
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