Shmuel Farhi issued a statement saying damage from vandals is to blame for the current state of the heritage-designated Wright Lithographing building on Wellington Street.

"Vandalism and break-ins have become a regular occurrence," said Farhi in a statement sent to CBC News.

Farhi bought the building in 2007. It's been vacant for more than 10 years.

In his statement, Farhi said electrical service to the building has been shut off for safety reasons. He also said thieves have stolen copper from the building's heating and cooling systems.

"People are continuously breaking in and stealing the copper from the electrical units and HVAC [heating, venting and air conditioning]," his statement says. "For safety reasons and to deter a major fire hazard, we decided the best course of action was to turn off the electricity. Other heritage properties are subject to the same problems."

It's unclear how the removal of electrical service and damage to heating and cooling equipment affects the building's compliance with city bylaws

Section 2.8 of the city's property standards bylaw requires landowners to keep heritage-designated buildings heated in cold weather, even buildings that are vacant.

Farhi's statement says he's working with city officials to protect the building's heritage components, including the clock that hung above its entrance and lettering that was recently removed from the facade.

The local branch of Architecture Conservancy Ontario (ACO) is concerned the building is in a state of decline that could leave it victim to demolition by neglect.

Jennifer Grainger, president of the local ACO branch, said getting the building renovated and tenanted would go a long way toward preventing further decline.

"He does need to fix it up in order to find tenants," she said. "The way it looks right now, I don't see why anyone would want to lease the building."

In a statement to CBC News, Orest Katolyk, the city's head of bylaw enforcement, said his office has been working with Farhi in response to complaints.

"I can confirm that we have an active property standards file on the subject property," he said. "We are investigating compliance with the regulation of maintaining proper heating of vacant heritage buildings."

Downtown London chair Gerald Gallacher said other London property owners have managed to strike lease deals that resulted in heritage buildings being re-purposed with new tenants.

As an example, he cites the Info-Tech Research Group office, a group of former industrial buildings that are now an attractive office space with exposed brick and wooden beams. Gallacher is principal architect for the firm that helped transform the building on Ridout Street between King and York streets.

"That took an owner who was willing to spend the money and get it done right," said Gallacher. "It's turned into a fantastic building."

Take a tour of Info-Tech's new London office with company founder Joel McLean 1:26

London at a 'critical juncture' Farhi says

Farhi's statement also endorses the city's Core Area Action Plan, calling it a "game-changer for London" as the city works to address problems of drug use and homelessness in the core.

"I believe that at this critical juncture, we must do everything in our capacity to overcome the challenges of homelessness, affordable housing, addiction and mental health," Farhi says. "The well being of our community members must always be our top priority."

"At Farhi Holdings, we want to be part of the solution. We are open to constructive feedback and are ready to help. We are working diligently with City administration, stakeholders and community members to collaborate on an action plan that addresses the ongoing issues in downtown."

Farhi's full statement

In a statement, Shmuel Farhi says new Core Area Action Plan will be a 'game-changer for London.' (Farhi Holdings Corporation)

This is the full text of the statement sent by Shmuel Farhi to CBC News:

As somebody who has spent many years helping to build our community, the prosperity of our downtown core is very important to me.

That is why, over the past two years, Farhi Holdings Corporation (FHC) has:

Achieved 100% retail occupancy for our retail properties on Richmond Row.

Increased occupancy space for our downtown buildings by 300,000 square feet.

Brought 1,800 jobs to Dundas Place.

The Wright Lithographic Building, like several other downtown structures, is a heritage property that is of sentimental and historical significance to Londoners.

Unfortunately, due to ongoing vandals, we have taken down the clock — a key feature of the property — in order to restore it and find a way to protect it from future damage. Vandalism and break-ins have become a regular occurrence. People are continuously breaking in and stealing the copper from the electrical units and HVAC. For safety reasons and to deter a major fire hazard, we decided the best course of action was to turn off the electricity. Other heritage properties are subject to the same problems. We are in consultation with the City of London, coordinating our efforts to safeguard and remediate the heritage components of the Wright Lithographic Building.

We have engaged with stakeholders who are concerned with a lack of affordable housing and emerging continuum of care issues as part of a comprehensive plan in the downtown. I believe that at this critical juncture, we must do everything in our capacity to overcome the challenges of homelessness, affordable housing, addiction and mental health. The well being of our community members must always be our top priority.

That is why I believe that the City's new Core Area Action Plan will be a game-changer for London. It provides several short-term, mid-term and long-term actions to address the rise in crime and social degradation in the downtown core. The current level of crime is detracting tenants, as is inadequate parking for the employees of prospective tenants. A solid commitment to strategic intensification is also needed. This means curtailing the sprawl of office space outside the core.

At Farhi Holdings, we want to be part of the solution. We are open to constructive feedback and are ready to help. We are working diligently with City administration, stakeholders and community members to collaborate on an action plan that addresses the ongoing issues in downtown. Farhi Holdings will be working in partnership with the Downtown Business Association to increase occupancy in the core. The community discussions currently taking place can be a positive step in finding solutions. By pulling together, we can restore our downtown to a vibrant and dynamic place to work, shop and live.