is there a way to keep a copy of a team project saved locally?

[Ronsuss]

We are a small shop, working off a local server. We primarily cut commercials and have the need to have assistants and several editors working on the same project simultaneously. I was really excited about Team Projects as it seems like the answer to our collaboration needs. However, we need to be able to save and access the project from our server and not just in the cloud. Is there a way to keep a copy of a team project saved locally or do they only exist in the cloud. If they only exist in the cloud, considering the sheer volume of work that we do, how do we keep our team project list from getting overwhelmingly huge?

[Udo_Pawlik]

Did you move the .tpr file into a 'local' folder ("Adobe/Common/Team Projects Local Hub/Auto Saves/local")  to open the project as a local-only project?
Are you able to create a new Team Project based on an Auto-Save or a previous Version - Create a new Team Project from a version?