PITTSBURGH (KDKA) — Pittsburgh Police are investigating after a woman was stabbed in downtown Pittsburgh Friday afternoon.

The incident happened in Triangle Park at Market Street and Liberty Avenue just after 12:30 p.m.

(Photo Credit: Amy Wadas/KDKA)

(Photo Credit: Amy Wadas/KDKA)

According to police, the victim was stabbed in the arm and taken to a local hospital in stable condition.

In the criminal complaint, the victim was identified as Tina Elder.

The authorities announced they arrested Johnny Lee Martin, 36, of Alabama. He was arrested across the street and was taken to Allegheny County Jail.

(Photo Credit: Allegheny County)

He is charged with aggravated assault, possessing instruments of crime, resisting arrest, flight to avoid apprehension and paraphernalia use or possession, the police said.

“I heard people screaming, and the woman who was stabbed was standing there, bleeding onto the ground,” witness Jake Berlin said. “And the man was still standing there with his knife.”

“They were both still arguing after the stabbing while people were calling the police,” Berlin added. “It wasn’t until the cops showed up, that’s when he started to run.”

Several witnesses say police chased the man down and arrested him quickly.

WATCH: New details have emerged in the downtown stabbing.

The criminal complaint stated that Elder was stabbed four times to her right wrist and three times to her abdomen.

The complaint also said Elder told police in an interview that Martin was looking to buy heroin but a dispute ensued over money.

Police recovered a used/broken hypodermic needle and a bent spoon off Martin.

In the complaint, Martin said something to the effect of, “That was dumb of me. I shouldn’t have stabbed her over $60.”

The Zone 2 Police substation is right across the street from the park.

“A cop car came flying down at like 90 miles per hour,” said Rex Streno, owner of Ulrich Shoe Repair. “The kid running down the street. The cop car almost hit the cop chasing him. Then they jumped out of the car, pulled guns and put him on the ground.”

Streno has been in business across from Triangle Park for decades. He said there’s a lot of commotion there every day.

“It’s unfortunate,” Pittsburgh Bureau of Police Spokesperson Cara Cruz said. “In a small downtown area with a lot of people, sometimes things like this happen. There shouldn’t be violence at any time of the day.”

WATCH: A live report from KDKA’s Rachele Mongiovi.

This is the third stabbing downtown this month.

On Aug. 8, two women were stabbed in front of a police officer at a bus shelter on 6th and Smithfield Streets. One of the women died from her injuries. Then, on Aug. 14, there was another stabbing near Market Square.

“It is concerning still to see this happening and hear about this happening so frequently,” one man said. “I’m wondering why, why it’s so prevalent all of a sudden?”

With a weekend jam-packed with events, some are hoping for extra security and a safer environment.

“I think it’s an issue that public safety needs to address immediately,” Berlin said. “We can’t keep turning a blind eye to the fact crime is getting worse downtown.”