Unable to create new project

There is an error while trying to create a new WebApplication Project.
Regardless of GWT SDK version if checkbox **Generate project sample code** is turned off, message box with error apears saying:

> Creation of element failed. See error log for more details

Eclipse **Version: Neon.2 Release (4.6.2)**
GWT Eclipse Plugin: **3.0.0.201611042254 com.gwtplugins.eclipse.suite.v3.feature.feature.group**

Error log:
```
!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-02 13:11:36.753
!MESSAGE Analytics ping response: 200: OK
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!SESSION 2017-03-06 15:31:15.291 -----------------------------------------------
eclipse.buildId=4.6.2.M20161124-1400
java.version=1.8.0_121
java.vendor=Oracle Corporation
BootLoader constants: OS=win32, ARCH=x86_64, WS=win32, NL=en_US
Framework arguments: -product org.eclipse.epp.package.java.product
Command-line arguments: -os win32 -ws win32 -arch x86_64 -product org.eclipse.epp.package.java.product

!ENTRY org.eclipse.egit.ui 2 0 2017-03-06 15:31:48.710
!MESSAGE Warning: The environment variable HOME is not set. The following directory will be used to store the Git
user global configuration and to define the default location to store repositories: 'C:\Users\ivan.n.dimitrijevic'. If this is
not correct please set the HOME environment variable and restart Eclipse. Otherwise Git for Windows and
EGit might behave differently since they see different configuration options.
This warning can be switched off on the Team > Git > Confirmations and Warnings preference page.

!ENTRY com.gwtplugins.gwt.eclipse.core 1 0 2017-03-06 16:17:04.278
!MESSAGE Reset default editor for extension: xml

!ENTRY org.eclipse.jdt.ui 4 10001 2017-03-06 16:17:04.804
!MESSAGE Internal Error
!STACK 0
java.lang.reflect.InvocationTargetException
at org.eclipse.jface.operation.ModalContext.run(ModalContext.java:398)
at org.eclipse.jface.wizard.WizardDialog.run(WizardDialog.java:993)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard.performFinish(NewElementWizard.java:136)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.performFinish(NewWebAppProjectWizard.java:115)
at org.eclipse.jface.wizard.WizardDialog.finishPressed(WizardDialog.java:790)
at org.eclipse.jface.wizard.WizardDialog.buttonPressed(WizardDialog.java:423)
at org.eclipse.jface.dialogs.Dialog$2.widgetSelected(Dialog.java:618)
at org.eclipse.swt.widgets.TypedListener.handleEvent(TypedListener.java:249)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4418)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1079)
at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:4236)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3824)
at org.eclipse.jface.window.Window.runEventLoop(Window.java:818)
at org.eclipse.jface.window.Window.open(Window.java:794)
at com.google.gdt.eclipse.core.actions.AbstractOpenWizardAction.run(AbstractOpenWizardAction.java:103)
at com.google.gdt.eclipse.suite.actions.NewWebAppToolbarHandler.execute(NewWebAppToolbarHandler.java:26)
at org.eclipse.ui.internal.handlers.HandlerProxy.execute(HandlerProxy.java:295)
at org.eclipse.ui.internal.handlers.E4HandlerProxy.execute(E4HandlerProxy.java:90)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.e4.core.internal.di.MethodRequestor.execute(MethodRequestor.java:55)
at org.eclipse.e4.core.internal.di.InjectorImpl.invokeUsingClass(InjectorImpl.java:282)
at org.eclipse.e4.core.internal.di.InjectorImpl.invoke(InjectorImpl.java:264)
at org.eclipse.e4.core.contexts.ContextInjectionFactory.invoke(ContextInjectionFactory.java:132)
at org.eclipse.e4.core.commands.internal.HandlerServiceHandler.execute(HandlerServiceHandler.java:152)
at org.eclipse.core.commands.Command.executeWithChecks(Command.java:494)
at org.eclipse.core.commands.ParameterizedCommand.executeWithChecks(ParameterizedCommand.java:488)
at org.eclipse.e4.core.commands.internal.HandlerServiceImpl.executeHandler(HandlerServiceImpl.java:210)
at org.eclipse.e4.ui.workbench.renderers.swt.HandledContributionItem.executeItem(HandledContributionItem.java:433)
at org.eclipse.e4.ui.workbench.renderers.swt.AbstractContributionItem.handleWidgetSelection(AbstractContributionItem.java:454)
at org.eclipse.e4.ui.workbench.renderers.swt.AbstractContributionItem$3.handleEvent(AbstractContributionItem.java:482)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4418)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1079)
at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:4236)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3824)
at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine$4.run(PartRenderingEngine.java:1121)
at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:336)
at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine.run(PartRenderingEngine.java:1022)
at org.eclipse.e4.ui.internal.workbench.E4Workbench.createAndRunUI(E4Workbench.java:150)
at org.eclipse.ui.internal.Workbench$5.run(Workbench.java:693)
at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:336)
at org.eclipse.ui.internal.Workbench.createAndRunWorkbench(Workbench.java:610)
at org.eclipse.ui.PlatformUI.createAndRunWorkbench(PlatformUI.java:148)
at org.eclipse.ui.internal.ide.application.IDEApplication.start(IDEApplication.java:138)
at org.eclipse.equinox.internal.app.EclipseAppHandle.run(EclipseAppHandle.java:196)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.runApplication(EclipseAppLauncher.java:134)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.start(EclipseAppLauncher.java:104)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:388)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:243)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.equinox.launcher.Main.invokeFramework(Main.java:673)
at org.eclipse.equinox.launcher.Main.basicRun(Main.java:610)
at org.eclipse.equinox.launcher.Main.run(Main.java:1519)
Caused by: java.lang.NullPointerException
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.getShell(LegacyGWTLaunchShortcutStrategy.java:110)
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.generateUrl(LegacyGWTLaunchShortcutStrategy.java:130)
at com.google.gdt.eclipse.suite.launch.WebAppLaunchUtil.determineStartupURL(WebAppLaunchUtil.java:139)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.createLaunchConfig(WebAppProjectCreator.java:558)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.create(WebAppProjectCreator.java:372)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.finishPage(NewWebAppProjectWizard.java:139)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard$2.run(NewElementWizard.java:120)
at org.eclipse.jdt.internal.core.BatchOperation.executeOperation(BatchOperation.java:39)
at org.eclipse.jdt.internal.core.JavaModelOperation.run(JavaModelOperation.java:724)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2240)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2267)
at org.eclipse.jdt.core.JavaCore.run(JavaCore.java:5521)
at org.eclipse.jdt.internal.ui.actions.WorkbenchRunnableAdapter.run(WorkbenchRunnableAdapter.java:105)
at org.eclipse.jface.operation.ModalContext$ModalContextThread.run(ModalContext.java:119)
Root exception:
java.lang.NullPointerException
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.getShell(LegacyGWTLaunchShortcutStrategy.java:110)
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.generateUrl(LegacyGWTLaunchShortcutStrategy.java:130)
at com.google.gdt.eclipse.suite.launch.WebAppLaunchUtil.determineStartupURL(WebAppLaunchUtil.java:139)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.createLaunchConfig(WebAppProjectCreator.java:558)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.create(WebAppProjectCreator.java:372)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.finishPage(NewWebAppProjectWizard.java:139)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard$2.run(NewElementWizard.java:120)
at org.eclipse.jdt.internal.core.BatchOperation.executeOperation(BatchOperation.java:39)
at org.eclipse.jdt.internal.core.JavaModelOperation.run(JavaModelOperation.java:724)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2240)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2267)
at org.eclipse.jdt.core.JavaCore.run(JavaCore.java:5521)
at org.eclipse.jdt.internal.ui.actions.WorkbenchRunnableAdapter.run(WorkbenchRunnableAdapter.java:105)
at org.eclipse.jface.operation.ModalContext$ModalContextThread.run(ModalContext.java:119)

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:17:05.609
!MESSAGE Sending POST request to Analytics: {cd1=org.eclipse.epp.package.java.product, cd4=com.gwtplugins.eclipse.suite.v3.feature_0.0.0.0, cd3=3.11.1.v20161107-2032, t=event, cd6=GWT 2.8.0, v=1, ea=GWT_COMPILATION, an=GWT Eclipse Plugin, tid=UA-62291716-1, ec=com.gwtplugins.gdt.eclipse.suite.update, cd10=1488456278889, cid=1488456278889}

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:17:05.612
!MESSAGE Analytics ping request parameters: cd1=org.eclipse.epp.package.java.product&cd4=com.gwtplugins.eclipse.suite.v3.feature_0.0.0.0&cd3=3.11.1.v20161107-2032&t=event&cd6=GWT%202.8.0&v=1&ea=GWT_COMPILATION&an=GWT%20Eclipse%20Plugin&tid=UA-62291716-1&ec=com.gwtplugins.gdt.eclipse.suite.update&cd10=1488456278889&cid=1488456278889

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:17:05.840
!MESSAGE Analytics ping response: 200: OK
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!ENTRY com.gwtplugins.gdt.eclipse.core 2 0 2017-03-06 16:17:06.595
!MESSAGE Unable to connect to http://localhost/update/compositeArtifacts.xml.

!ENTRY org.eclipse.jdt.ui 4 10001 2017-03-06 16:22:50.220
!MESSAGE Internal Error
!STACK 0
java.lang.reflect.InvocationTargetException
at org.eclipse.jface.operation.ModalContext.run(ModalContext.java:398)
at org.eclipse.jface.wizard.WizardDialog.run(WizardDialog.java:993)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard.performFinish(NewElementWizard.java:136)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.performFinish(NewWebAppProjectWizard.java:115)
at org.eclipse.jface.wizard.WizardDialog.finishPressed(WizardDialog.java:790)
at org.eclipse.jface.wizard.WizardDialog.buttonPressed(WizardDialog.java:423)
at org.eclipse.jface.dialogs.Dialog$2.widgetSelected(Dialog.java:618)
at org.eclipse.swt.widgets.TypedListener.handleEvent(TypedListener.java:249)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4418)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1079)
at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:4236)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3824)
at org.eclipse.jface.window.Window.runEventLoop(Window.java:818)
at org.eclipse.jface.window.Window.open(Window.java:794)
at com.google.gdt.eclipse.core.actions.AbstractOpenWizardAction.run(AbstractOpenWizardAction.java:103)
at com.google.gdt.eclipse.suite.actions.NewWebAppToolbarHandler.execute(NewWebAppToolbarHandler.java:26)
at org.eclipse.ui.internal.handlers.HandlerProxy.execute(HandlerProxy.java:295)
at org.eclipse.ui.internal.handlers.E4HandlerProxy.execute(E4HandlerProxy.java:90)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.e4.core.internal.di.MethodRequestor.execute(MethodRequestor.java:55)
at org.eclipse.e4.core.internal.di.InjectorImpl.invokeUsingClass(InjectorImpl.java:282)
at org.eclipse.e4.core.internal.di.InjectorImpl.invoke(InjectorImpl.java:264)
at org.eclipse.e4.core.contexts.ContextInjectionFactory.invoke(ContextInjectionFactory.java:132)
at org.eclipse.e4.core.commands.internal.HandlerServiceHandler.execute(HandlerServiceHandler.java:152)
at org.eclipse.core.commands.Command.executeWithChecks(Command.java:494)
at org.eclipse.core.commands.ParameterizedCommand.executeWithChecks(ParameterizedCommand.java:488)
at org.eclipse.e4.core.commands.internal.HandlerServiceImpl.executeHandler(HandlerServiceImpl.java:210)
at org.eclipse.e4.ui.workbench.renderers.swt.HandledContributionItem.executeItem(HandledContributionItem.java:433)
at org.eclipse.e4.ui.workbench.renderers.swt.AbstractContributionItem.handleWidgetSelection(AbstractContributionItem.java:454)
at org.eclipse.e4.ui.workbench.renderers.swt.AbstractContributionItem$3.handleEvent(AbstractContributionItem.java:482)
at org.eclipse.swt.widgets.EventTable.sendEvent(EventTable.java:84)
at org.eclipse.swt.widgets.Display.sendEvent(Display.java:4418)
at org.eclipse.swt.widgets.Widget.sendEvent(Widget.java:1079)
at org.eclipse.swt.widgets.Display.runDeferredEvents(Display.java:4236)
at org.eclipse.swt.widgets.Display.readAndDispatch(Display.java:3824)
at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine$4.run(PartRenderingEngine.java:1121)
at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:336)
at org.eclipse.e4.ui.internal.workbench.swt.PartRenderingEngine.run(PartRenderingEngine.java:1022)
at org.eclipse.e4.ui.internal.workbench.E4Workbench.createAndRunUI(E4Workbench.java:150)
at org.eclipse.ui.internal.Workbench$5.run(Workbench.java:693)
at org.eclipse.core.databinding.observable.Realm.runWithDefault(Realm.java:336)
at org.eclipse.ui.internal.Workbench.createAndRunWorkbench(Workbench.java:610)
at org.eclipse.ui.PlatformUI.createAndRunWorkbench(PlatformUI.java:148)
at org.eclipse.ui.internal.ide.application.IDEApplication.start(IDEApplication.java:138)
at org.eclipse.equinox.internal.app.EclipseAppHandle.run(EclipseAppHandle.java:196)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.runApplication(EclipseAppLauncher.java:134)
at org.eclipse.core.runtime.internal.adaptor.EclipseAppLauncher.start(EclipseAppLauncher.java:104)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:388)
at org.eclipse.core.runtime.adaptor.EclipseStarter.run(EclipseStarter.java:243)
at sun.reflect.NativeMethodAccessorImpl.invoke0(Native Method)
at sun.reflect.NativeMethodAccessorImpl.invoke(Unknown Source)
at sun.reflect.DelegatingMethodAccessorImpl.invoke(Unknown Source)
at java.lang.reflect.Method.invoke(Unknown Source)
at org.eclipse.equinox.launcher.Main.invokeFramework(Main.java:673)
at org.eclipse.equinox.launcher.Main.basicRun(Main.java:610)
at org.eclipse.equinox.launcher.Main.run(Main.java:1519)
Caused by: java.lang.NullPointerException
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.getShell(LegacyGWTLaunchShortcutStrategy.java:110)
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.generateUrl(LegacyGWTLaunchShortcutStrategy.java:130)
at com.google.gdt.eclipse.suite.launch.WebAppLaunchUtil.determineStartupURL(WebAppLaunchUtil.java:139)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.createLaunchConfig(WebAppProjectCreator.java:558)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.create(WebAppProjectCreator.java:372)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.finishPage(NewWebAppProjectWizard.java:139)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard$2.run(NewElementWizard.java:120)
at org.eclipse.jdt.internal.core.BatchOperation.executeOperation(BatchOperation.java:39)
at org.eclipse.jdt.internal.core.JavaModelOperation.run(JavaModelOperation.java:724)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2240)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2267)
at org.eclipse.jdt.core.JavaCore.run(JavaCore.java:5521)
at org.eclipse.jdt.internal.ui.actions.WorkbenchRunnableAdapter.run(WorkbenchRunnableAdapter.java:105)
at org.eclipse.jface.operation.ModalContext$ModalContextThread.run(ModalContext.java:119)
Root exception:
java.lang.NullPointerException
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.getShell(LegacyGWTLaunchShortcutStrategy.java:110)
at com.google.gwt.eclipse.core.launch.LegacyGWTLaunchShortcutStrategy.generateUrl(LegacyGWTLaunchShortcutStrategy.java:130)
at com.google.gdt.eclipse.suite.launch.WebAppLaunchUtil.determineStartupURL(WebAppLaunchUtil.java:139)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.createLaunchConfig(WebAppProjectCreator.java:558)
at com.google.gdt.eclipse.suite.wizards.WebAppProjectCreator.create(WebAppProjectCreator.java:372)
at com.google.gdt.eclipse.suite.wizards.NewWebAppProjectWizard.finishPage(NewWebAppProjectWizard.java:139)
at org.eclipse.jdt.internal.ui.wizards.NewElementWizard$2.run(NewElementWizard.java:120)
at org.eclipse.jdt.internal.core.BatchOperation.executeOperation(BatchOperation.java:39)
at org.eclipse.jdt.internal.core.JavaModelOperation.run(JavaModelOperation.java:724)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2240)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2267)
at org.eclipse.jdt.core.JavaCore.run(JavaCore.java:5521)
at org.eclipse.jdt.internal.ui.actions.WorkbenchRunnableAdapter.run(WorkbenchRunnableAdapter.java:105)
at org.eclipse.jface.operation.ModalContext$ModalContextThread.run(ModalContext.java:119)

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:22:50.386
!MESSAGE Sending POST request to Analytics: {cd1=org.eclipse.epp.package.java.product, cd4=com.gwtplugins.eclipse.suite.v3.feature_0.0.0.0, cd3=3.11.1.v20161107-2032, t=event, cd6=GWT 2.8.0, v=1, ea=GWT_COMPILATION, an=GWT Eclipse Plugin, tid=UA-62291716-1, ec=com.gwtplugins.gdt.eclipse.suite.update, cd10=1488456278889, cid=1488456278889}

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:22:50.387
!MESSAGE Analytics ping request parameters: cd1=org.eclipse.epp.package.java.product&cd4=com.gwtplugins.eclipse.suite.v3.feature_0.0.0.0&cd3=3.11.1.v20161107-2032&t=event&cd6=GWT%202.8.0&v=1&ea=GWT_COMPILATION&an=GWT%20Eclipse%20Plugin&tid=UA-62291716-1&ec=com.gwtplugins.gdt.eclipse.suite.update&cd10=1488456278889&cid=1488456278889

!ENTRY com.gwtplugins.gdt.eclipse.suite.update 1 0 2017-03-06 16:22:50.591
!MESSAGE Analytics ping response: 200: OK
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```