Nothing! The user interface for selecting project templates has changed a bit in Xcode 6.1. Here's how to create a C ++ library project:
To create a C ++ library, select a library template (even if the description says: βThis template creates a library that references the Cocoa framework). It can be a little confusing, but you can change it to make it a C ++ library in next step).

Click Next, and then you can choose the type of Framework to be a simple C ++, Cocoa or STL library (C ++ library). You can also specify Type to Static or Dynamic.

Now I feel like an idiot. I spent at least a couple of hours reinstalling Xcode and trying some other things. Hope this saves you some time.
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