A rezoning application filed in the spring to allow for an eight-story, 24-unit multifamily project in Old Fourth Ward will be reviewed Thursday evening by Neighborhood Planning Unit – N, according to the citizen advisory council’s agenda
Project applicant and site owner Modern 4 LLC, which was formed by Cablik Enterprises founder Alan Cablik, is seeking to rezone vacant property at 791 Ralph McGill Blvd. NE to make way for a greater permitted floor area ratio. The .172-acre property fronts the southern side of Ralph McGill Boulevard and is bordered by the Block Lofts apartment complex to the west and south. It is also just off of the Atlanta BeltLine Eastside Trail to the east.
The new development would be a 28,700-square-foot apartment building with 18 870-square-foot one-bedrooms and six 1,200-square-foot two-bedrooms over two levels of parking, a rezoning application on file with the city of Atlanta shows. Four units would be set aside at below market rate for households at 80 percent of area median income.
Projected below-market-rate rents are $1,293 for one-bedroom units and $1,552 for two-bedroom units, while expected market-rate rents for the ones and twos are $2,000 and $3,000, respectively, according to the application
Choate + Hertlein Architects is leading the design of the project, plans show.
Modern 4 LLC acquired the project site last summer for $400,000, according to Fulton County property records. It is just south of New City Properties’ underway plans for a $1 billion mixed-use project at 760 Ralph McGill.
Cablik lists an expected completion date for 791 Ralph McGill Blvd. of the second quarter of 2024 in its rezoning application.