Try saving the virtualenvs directory somewhere, you will not have any permission errors (and maybe even try using the absolute path). Also, are you sure you created the "projects" directory manually?
For reference, my bashrc file looks something like this:
export WORKON_HOME=/srv/.virtualenvs/ export PIP_VIRTUALENV_BASE = WORKON_HOME source /usr/local/bin/virtualenvwrapper.sh
And my .virtualenvs directory is chmodded to 755.
source share