This is how you do it:
* Right-click the project in Solution Explorer, select Rename, and enter the new name
* Right-click the project again and select Properties. Change the "Assembly name" and "Default namespace" on the Application tab.
* Right-click the project again and select Refactor -> Adjust Namespaces. Accept the changes.
* Change the AssemblyTitle and AssemblyProduct in Properties/AssemblyInfo.cs
* Delete bin and obj directories in Windows Explorer
* Open the Source Control Explorer and rename the project's directory. This will close the solution. Let it be closed.
* Open the SLN file (with a text editor such as Notepad++) and change the path to the project (there should be multiple places).
* Open the Solution again. Clean and Rebuild the project.