OK, found this in the SPATS long-range transportation plan, which is available here: http://spatsmpo.org/bin/dl/LRTP.pdf
From page 89:
Another problem area that needs addressing, which does not show up in the ranking process, is the intersection of North Blackstock Road, Fairforest Road and Hayne Street. A set of railroad tracks are involved in this intersection as well. Traffic signals are located on both sides of the railroad tracks without adequate storage for traffic queues between the signals. Drivers will often make right turns on red and become trapped on the railroad tracks. Railroad preemption of the traffic signal, automatic traffic arms and flashing crossbuck lights and “no right turn on red” signs are in place. The reconstruction and relocation of the intersections near the railroad tracks are needed.
And page 91:
Recommended intersection relocations and improvements....Reconstruction of the North Blackstock Road, Fairforest Road and Hayne Street intersection. Consider all options for closing roadways, relocating
roadways, providing alternate routes or bridging the railroad tracks.
So yes, it looks like the project is not ranked, is many years away, and all options are still on the table.