It's funny - I walked by that building about a week ago and thought to myself that it would be a good place for something new
Divisadero needs a lot of work, glad to see something potentially getting the ball rolling.
One of the comments on Socketsite also mentions the upcoming "greening" of Divis (which I wasn't aware of), with new trees being planted as well as widened sidewalks and a new median that has waiting areas for crossing pedestrians:
http://www.examiner.com/a-1143028~Divisadero_Street_overhaul_planned.html?cid=rss-San_Francisco,