The owner of a plain-looking building at Hamilton's most central intersection says some upgrades to the exterior facades are in the works.

Scotiabank owns the low-rise commercial building on the northeast corner of King and James streets that houses a cash-for-gold store, a convenience store, a pizza place and a discount shoe store.

According to land registry documents, 2 James St. N. is owned by 775767 Ontario Limited, a company populated by officers from the bank's upper echelons. Bank of Nova Scotia media relations officer Andrew Chornenky confirmed it is a bank property.

Peeling stucco and boarded upper windows have drawn the ire of other business owners, who would like to see the bank help fuel downtown revitalization.

In early July, Chornenky said there were no plans to fix up the building or put it on sale, but another spokesperson recently said upgrades were being planned.

"We started planning for the work on the exterior of the building in July, and we expect to begin that work fairly soon," said Sheena Findlay in an email, adding the building is in good repair structurally.

Listed in Municipal Property Assessment Corporation records as 1-3 � King St. E., the structure was assessed at $368,000 on Jan. 1, 2012.

Hamilton's property standards bylaw says exterior walls must be "maintained to prevent their deterioration" and buildings must be "repaired of vandalism or other damage including but not limited to broken windows." It is enforced on a complaints basis.

City spokesperson Debbie Spence said the building hasn't been subject to any property standards orders.

Sonic Unyon Records owner and Supercrawl organizer Tim Potocic said a nicer building at that corner could act as a gateway to downtown and James Street North.

"I feel that King and James is one of the most important intersections in the city," said Potocic, whose company has successfully renovated and rented out several older buildings downtown.

He said the upper floors are empty and have been as long as he can remember, a detail Scotiabank confirmed. Potocic would like to see the company join the wave of urban renewal, especially since money can be made by doing so.

"Knowing they have the capacity quite easily to turn (the building) into a beautiful property that is potentially tenantable ... it's appalling in many ways."