You can undelete files/folders in TFS if that is what you want?
In Visual Studio, go to Tools, Options, Source Control, Team Foundation Server and check the "Show deleted items in Source Control Explorer" box. Then browse in source control explorer to the place where the project was located and you can undeleted it.
To make it appear in your solution you could then do a "Get Specific" on the project in Source Control Explorer, then right click on the solution and do "Add Existing Project..." to load the project from your local file system into Source Control Explorer.
Hope that helps - good luck,