Error loading info for project when building web application

[ThMoJe]

When using the "Make VS.NET" action to build a web application i get this error:

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Error loading info for project file 'http://localhost/UserServices.csproj': The remote server returned an error: (403) Forbidden.
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Trying to get browse 'http://localhost/UserServices.csproj' in IE of course gives this error:
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This type of page is not served.
Description: The type of page you have requested is not served because it has been explicitly forbidden. The extension '.csproj' may be incorrect. Please review the URL below and make sure that it is spelled correctly.

Requested Url: /UserServices.csproj
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I have no problem opening the solution that i want to build in VS.NET and and build it manually. Also a command line invoked from within Visual Build works fine. Ex.:
devenv.com PathToMySolution.sln /rebuild "Release

Is there some thing wrong in the way Visual Build is getting the project info? My web is not located below C:\Inetpub\wwwroot and I use another share than wwwroot$ setup according to MS specifications?