Visual Studio how can I create a non-numeral virtual directory in project url

My project URL on visual studio is http://localhost:63012/ I can change the port number to anything and everything still works, however it does not let me create a non-numerical URL such as http://localhost/myapplication/ . It says unable to create virtual directory. The url http://localhost:80/ is already mapped to a different folder in IIS. I need a non-numerical port because that is the only way that the Android emulator will recognize the Json code in Visual Studio any suggestions would be great..