Question on 'Store project in own folder' option.

I was trying to reorg my Project folder and need some help. I no longer have a 'Store Project audio in its own folder' option when starting new projects. My goal was to uncheck and start building my projects flatter. It looks like all new projects start in a new folder, however if you save a project as a new name, the new project defaults in the current projects folder. 

Was this an intended change?