It actually stands for "Rejuvenating Development" as I believe we need to look at alternatives to the same old tired approach which appears to be demolish and replace with big, boring, uninspiring boxes designed to; max density/site coverage/height/units/profits and minimizes the desires of the community for attractive landscapes, heritage, variety and livability. There are lots of successful examples of conversions, strata row house, and townhouses in the neighbourhood that provide the desired positive aspects for the community while also delivering significant profit to the developer. This is not an us vs. them or a NIMBY argument. This should be about collaboration to arrive at a solution that works for both sides which includes redevelopment on the site while providing a transition between higher density in the core and lower density in the traditional single family areas.
Regarding the last part of your statement (transition between higher density in the core and lower density in the traditional single family areas), it's safe to say that the predominant building form in the 1000 blocks of Fairfield (west of Cook Street and east of Vancouver Street) and between Meares Street and Fairfield Rd is 4-storey wood framed apartment blocks. In a sense, these buildings do act as a kind of transition between higher densities in downtown proper and the single-family homes east of Cook Street and south of the Rockland area.
That doesn't mean that this building form is the only appropriate vehicle for density in these 1000 blocks. In fact, the single-family homes could be lifted, moved to one side of the of the property, and converted into strata units (similar to the work done by Hans de Goede elsewhere in Fairfield and James Bay) whilst additional units are added elsewhere on the remaining land of the property in the form of a new building. However, if we assume that the moved/raised houses could contain 3 strata units each, the new building would definitely need to be taller to squeeze 30 suites onto a smaller land parcel. Personally, I'd be fine with this development scenario (it would certainly be interesting to see 6-storey woodframe alongside redeveloped character houses within a single strata), but I imagine it would face opposition from neighbours due to its height.