Hi Helen that’s not a normal Avid workflow.
Renaming projects can be problematic. You have to rename the project folder and the. Avp file and the project settings.
But Avid media created and linked media is managed by Avid based on the name of the project and you can’t alter that.
The normal workflow would be to AMA link the HQ source files.
(This could be in an ingest project or can be in the main project)
Transcode to proxy media. Move those proxy master clips to a new bin(copy that bin to the main project if using 2 projects)
Contact me if you need more help off list.