It is a fairly status-quo SEPTA project, converting low-level platforms to high-level ones, but the total project includes a restoration of the historic headhouse (the white building in the center of the picture). Of note is the idea to raise the floor level within the headhouse to bring it to the new platform level.
Wayne Jct. is a key Regional Rail hub, and given local developmental opportunities (see this link [PDF]), this is a project that needs to be done yesterday. Densification and upzoning around train stations--except where deliberately designed otherwise--needs to be a key goal of 21st-century public transit.