Just some thoughts,

Do you need to build an application from the ground up, could a game platform development kit (Unity?) be used?

Does it need to be rendered real-time, could you pre-render the house and objects at various angles and then animate to give the impression its 3D.

If the app needs to be written from ground up what development tools does your school expect you to use?

What do they mean about 3d objects being provided. Does that mean the school will provide the 3d objects which you will need to incorprate or does that mean you will make certain objects available to the children.