You can actually see the results of this project on Google Maps. It's not QUITE how they projected it (no plan EVER survives contact with the enemy). But it looks like a very well executed (re)build. And modern understanding of air sealing and insulation means you can retain much of the "heritage", without sacrificing energy efficiency. So the legacy units may not be QUITE up to the standard of the new units on-site, but most people won't be able to tell. Especially because the development is taking into account economies of scale through centralized utilities.