The development site sits on Gough and Franklin streets, one block from the newly reconstructed Octavia Boulevard and across the street from the well-reviewed Zuni Café. The plan is for a new eight-story building with studio, one- and two-bedroom units above street-level retail that incorporates two walls of an old brick stable building that sits on a portion of the site. An historic two-story building on the site also will be preserved and have ground floor retail, second-floor condominiums and on the rooftop penthouses with with big decks.

Intracorp San Francisco's head of development Robert Hertzfeld tells GlobeSt.com site work such as development and excavation likely will get underway sometime between now and the end of the year. The demolition and shoring and excavation permits are already in hand and a foundation permit will be applied for this week, he says. Final negotiations are underway with several potential lenders for the project, he adds.

Hertzfeld, who just prior to joining Intracorp was running the Watermark condominium tower development for Lend Lease, says the Page Street project will take 16 months to complete once construction is underway, which is expected to be early next year. Condominium presales likely will begin in February, he says. The units are expected to sell for an average of about $800 per sf and be largely sold out before construction is complete.