Error adding new ASP .Net Web project

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Receiving Unable to read the project file WebTest.csproj. The device is not
ready.

I am working on a test area and I have had to create and remove a web
project many times in an effort to get code copied from another server to
work correctly.
Now when I want to recreate the web project, click on the Add Project
button, I click on Web application button and entered the project name and
for simplicity I will call it WebTest.

In the past, I have always made sure the project didn't exist under wwwroot
and in the IIS Server Manager. On occasion when I removed the project from
the solution, the directory still existed under the wwwroot directory but was
gone from IIS.

Now when I create the web project on VS .Net the project gets create but
when it is done, I get 'Project unavailable'. When I save the colution and
open the project again, I get the error meesage stated above.

I can add new web project under a different name without a problem. I need
to create the project with the name receiving the error because of team
development.

Any help is appreciated.
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