I did this last night in roughly that area. There are a lot of conveniently-placed balconies around those streets. I threw a smoke grenade, called the police and watched as the streets became littered with NPC corpses. The tram actually came through the street half-way through the shootout and slammed into a couple of gangsters and their SUV.
I also went back here today and sniped a couple of players from the rooftops. Their intentions were unclear but they got too close for comfort so they had to be warned. I even trapped one poor low level who was following me. I hid in the garden of a house and threw a smoke grenade into the street ahead of me where the low level guy was snooping around. Within ten seconds gang members were showing up shooting in every direction. They killed the player and I teleported my ass out of there.
This is becoming my new favourite area of the map to hang out in. Thanks for bringing it to my attention.