The Austin Police Department posted on X, formerly Twitter, that the shooting took place at a business in the 10000 block of Research Boulevard, which is anchored by the Arboretum, an outdoor shopping complex in the city's north end.
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Police added that their resources were working to stabilize the scene and no one was detained.
"At this time we do not have any information to believe there's a threat to the public," APD posted at 6:33 p.m. CT.
While police didn't provide information on victims, Austin-Travis County EMS elaborated on its response to the "critical incident," with five total patients involved.
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Two adults were pronounced dead at the scene, while one adult was rushed to a trauma facility with critical, life-threatening injuries, ATCEMS posted. Two more adults were evaluated for minor injuries.
APD Interim Chief Robin Henderson said they received the first call of the shooting at about 5 p.m., with additional calls stating at least one person was shot.
Law enforcement from a variety of agencies, including Texas DPS and APD's Counter-Assault Strike Team, responded with the belief of an active shooter, the interim chief said.
A bomb squad was also called due to initial reports of an explosion, but police found no evidence of explosives.
There is no continuing threat to the public and no additional outstanding suspects, Henderson said. Police are calling out for anyone with photos or video of the incident to submit their media to APD.