Converting Entire Edited Project from h.264 to ProRes

So I've been given another editor's FCP project to re-edit and color correct.

This guy somehow managed to edit the entire thing with straight h264 off the 7D.

Is there any way to convert all the capture scratch into ProRes and then just reconnect the media?
 
Right click the sequence, go to Media Manager... choose recompress.

I would suggest choosing the option to place new media/sequence in a new project.
 
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