Output To template tender to folder alongside project folder

I used to have a render "Output To" template that worked with my folder structure...

 [projectFolder]/../Renders/[projectName].[fileextension]

Is there a new way to write [projectFolder]/../ to save the render in an existing folder alongside the project folder? I have projects that may be in 1-5 of the below folders that all need to render out to the "Renders" folder. Can I make a template for this still? Or do I need to write a script?