The victim suffered multiple gunshot wounds and was taken to Ben Taub General Hospital where he was pronounced dead.
His identity was not released Tuesday, pending notification of family members.
Police said the other teen was not hurt.
Investigators are looking for the shooter, described as a Latino man dressed all in blue. He had a blue bandana over his face and he left the scene on foot.
Anyone with information on this crime is urged to call Houston Police Department Homicide Division at 713-308-3600 or Crime Stoppers at 713-222-TIPS. All Crime Stoppers tipsters remain anonymous and could be eligible for a reward of up to $5,000.