Last week saw a step forward for a major project comprising a total of 450 new residential units at Folsom and 5th, just a couple blocks from the Intercontinental Hotel. Currently a parking lot between Folsom and Clementina, and a warehouse just north of Clementina, a proposal last year would have leveled all of it to put in two brand new 9-story buildings. However, determining the warehouse to be contributing to a historic area, the development team decided instead to keep the warehouse and propose adaptively reusing it instead (gluing new stuff on the old, SoMa-style). The team, AGI Capital Group and Architecture International— the same one that brought us SoMa Grand at 1160 Mission— presented the project at 900 Folsom and 260 5th as it stands to the Planning Commission on Thursday. As yet, there's no approval or disapproval, and the project, as you can see above, appears to still be evolving. And quite fond of pastel colors.