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You’ve been told you are getting

 Fibre to the Building (FTTB) is used when connecting an apartment block or similar types of buildings to the fibre access network. Here the fibre optic cable is run to a central point in the complex, maybe an equipment room, and is terminated there. I suppose it is then like a node. It then uses existing cabling in the building to connect to your unit. Many members living in multi-unit complexes, will probably find this is the connection they will be given.

This is a typical equipment layout

The internal equipment will be installed by you ISP, who will use the existing building cabling most likely copper wires to connect to the Node in the building and then in your unit install a NBN compatible modem /router to the telephone wall outlet. The modem needs a power supply, so a power out let needs to be near or one installed (additional cost).

The modem is much like your existing one in that it will be a modem (connecting to the NBN) and it will be a wireless / router with ports so you can connect your computer mobile devices TV or similar equipment that uses your local area network. It may have additional ports to let you hardwire devices on the network or use wireless for connections.

The modem also has ports for connecting your telephone to the NBN.

This link is to the NBN

View this video for more information