Your situation is a bit different. as you as close to the tracks (how close?) but not next to a station but I think parallels apply. Not be cast a negative light, but with squealing trains going by every 5-10 minutes and this project's zero lot set-up it won't give some the suburban feel of quiet streets with kids playing in their yards. It is a bit more functional and somewhat industrial looking at least as I see it from the Washington overpass. But others like the 'low maintenance', close to downtown aspect of this project so it comes down to taste and what you want to give up to get a larger home with OK schools as the junior high and high school don't compare well with other Fremont schools but do compare very well compared to the bay area as a whole.
I hope this helps. Realtors have to parse their words carefully so it is good to have the opinion of everyday homeowners but of course I have my biases as well, so it is up to you to make the final decision. Good Luck!