Source control for your project is still initializing and will be available soon

Sep 19 at 1:53 AM
When creating a new project with a TFS repo, the following message appears under the source code tab:

"Source control for your project is still initializing and will be available soon."

Leaving it does not resolve it, it is just replaced with another error which points to systems outages and contacts.

At present, I am unable to create any new projects as a result.