Police said two kids, the 3-year-old and a 10-year-old, were playing at 10400 Peachtree St. at about 10:25 a.m. when a silver Toyota SUV hit the girl.
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The SUV didn't stop and continued northbound on Peachstreet.
Police said the child was taken to a hospital and is stable.
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"She's alert and breathing," HPD assistant chief Ernest Garcia said.
Officers said the SUV was speeding while the kids were playing in the street, and anyone with information on the vehicle is urged to call the police department.