The main objective of the presented paper was to evaluate the integrated design strategies applied in refurbishment of the prefabricated residential housing, erected in 70 in the New Belgrade, Serbia, in order to achieve energy savings accompanied with reduction of CO2 emissions and improvement of households' health and comfort. Conducted study led to the preliminary design of energy refurbishment of the existing building, and its conversion to energy efficient building with minimized loads. Building's dynamic behavior and energy efficiency have been optimized implementing BPS-Building Performance Simulation. Very significant reduction of thermal and cooling loads with the reference to the building's existing status is obtained. Refurbishment encompassed comprehensive optimization of building's envelope structure, natural and mixed ventilation. The implementation of a series of EEI (energy efficiency improvement) measures resulted in significant reduction of buildings energy loads. The investment in energy efficiency retrofitting can improve macroeconomic stability and contribute to the sustainable economic growth. Furthermore, economic analyses were performed for each model, considering present economic situation in Serbia and availability of funds for refurbishment. Presented methodology and results of the performed analyses offer an opportunity to extend their application to other neighborhoods, exploring refurbishment potential results if applied on a greater urban scale. (C) 2014 Elsevier B.V. All rights reserved.