So what can we look forward to at 55 Laguna? Plans for the property include a community center, retail space (specifically non-chain retail, as noted by CurbedSF), 428 units of affordable housing -- 80 of which will go towards senior housing for the LGBT community -- and a 20 thousand square foot park and gardens.
And since nothing can go unprotested when it comes to new developments, the new plans definitely get in the way of the National Register of Historic Places: two of the buildings on the soon-to-be-demolished property are recently declared historical sites. Recently declared, as in "as of January 7th" recently declared. Don't expect this new development to go up without a fight from the preservationists.
Image of the development from 55laguna.com.