You can enter the Folder name as it will appear in the Projects tree.
Download directory
Assign a directory to the folder. All Projects located in this folder will use this directory to store downloaded files and sites.
This feature allows you to specify several locations where downloaded files will be saved. For example, you may group your Projects in folders with different download directories to balance used disk space on different hard disk drives or restrict access for other users (if you have Windows NT installed.)
Uncheck the option if you want this folder to use the Default download directory from the Options dialog.