Error occurred in deployment step 'Recycle IIS Application Pool'

You download a code sample of a SharePoint project and when you try to run in the debugger you see an  error like this: Error occurred in deployment step 'Recycle IIS Application Pool': Cannot connect to the SharePoint site: http://intranet.wingtip.com/. Make sure that this is a valid URL and the SharePoint site is running on the local computer. If you moved this project to a new computer or if the URL of the SharePoint site has changed since you created the project, update the Site URL property of the project.

To correct this go to the project properties dialog and update the Site URL property: