It's been about seven years in the making, but it looks like work is finally about to get underway on 555 Fulton Street.

As SocketSite notes today, the project involves construction of a 5-story building on the block bounded by Fulton, Birch, Laguna and Octavia. It will have 139 residences, plus 30,000 feet of ground floor retail designed for a grocery store. There would also be a two-level underground parking garage. The original architect of the building was Stanley Saitowitz of Natoma Architects, who described the glass-covered structure as "divided into segments with incisions that expose the interior to the street. At mid block, a cut forms an alley that links Fulton and Birch Streets through the block... The ground floor of the building is a large grocery store, entered from a court off Laguna Street." However, a recent permit reveals that Ian Birchall + Associates (IBA) has been hired to revise the design. According to the firm's website:

"In response to input from Hayes Valley Neighbors Association, this project adopts a consciously contemporary attitude to its design. The exterior glass skin utilizes a custom designed horizontally striped glass in two offset panels to assist the privacy of the units just 35' across Birch Street. The ground floor is destined to be a retail space. The project contains 139 residences, and two levels of basement parking. The design is a distinct evolution of a previously entitled design prepared by Natoma Architects for the same site. Construction is intended to start in 2014."

In May, permits were filed to demolish an existing 2-story building on the site and begin construction on the new development. If and when those permits go through, work will get underway. We'll keep you updated. Update 2:45pm: To find out more, attend tonight's monthly Hayes Valley Neighborhood Association community meeting, where the developers of 555 Fulton and SF Planning Department staff will discuss the project. That's tonight at 7pm at the Hayes Valley Playground clubhouse, at Hayes and Buchanan.