diff --git a/HISTORY.rst b/HISTORY.rst
index c9384b85..b0e5b2bc 100644
--- a/HISTORY.rst
+++ b/HISTORY.rst
@@ -9,14 +9,21 @@ PlatformIO 4.0
 
 * Added Python 3.5+ support
   (`issue #895 <https://github.com/platformio/platformio-core/issues/895>`_)
+
+
+PlatformIO 3.0
+--------------
+
+3.6.5 (2019-??-??)
+~~~~~~~~~~~~~~~~~~
+
 * Project Generator: added new targets for CLion IDE "BUILD_VERBOSE" and "MONITOR" (serial port monitor)
   (`issue #359 <https://github.com/platformio/platformio-core/issues/359>`_)
 * Fixed an issue with slow updating of PlatformIO Core packages on Windows
 * Fixed an issue when `platformio ci <https://docs.platformio.org/en/latest/userguide/cmd_ci.html>`__ recompiles project if ``--keep-build-dir`` option is passed
   (`issue #2109 <https://github.com/platformio/platformio-core/issues/2109>`_)
-
-PlatformIO 3.0
---------------
+* Fixed an issue when ``$PROJECT_HASH`` template was not expanded for the other directory ``***_dir`` options in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+  (`issue #2170 <https://github.com/platformio/platformio-core/issues/2170>`_)
 
 3.6.4 (2019-01-23)
 ~~~~~~~~~~~~~~~~~~
@@ -60,8 +67,8 @@ PlatformIO 3.0
 ~~~~~~~~~~~~~~~~~~
 
 * Generate an `include <http://docs.platformio.org/page/projectconf/section_platformio.html#include-dir>`__ and `test <http://docs.platformio.org/page/projectconf/section_platformio.html#test-dir>`__ directories with a README file when initializing a new project
-* Support in-line comments for multi-line value (``lib_deps``, ``build_flags``, etc) in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
-* Added ``$PROJECT_HASH`` template variable for `build_dir <http://docs.platformio.org/en/latest/projectconf/section_platformio.html#projectconf-pio-build-dir>`__. One of the use cases is setting a global storage for project artifacts using `PLATFORMIO_BUILD_DIR <http://docs.platformio.org/en/latest/envvars.html#envvar-PLATFORMIO_BUILD_DIR>`__ system environment variable. For example, ``/tmp/pio-build/$PROJECT_HASH`` (Unix) or ``%TEMP%/pio-build/$PROJECT_HASH`` (Windows)
+* Support in-line comments for multi-line value (``lib_deps``, ``build_flags``, etc) in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+* Added ``$PROJECT_HASH`` template variable for `build_dir <http://docs.platformio.org/en/latest/projectconf/section_platformio.html#projectconf-pio-build-dir>`__. One of the use cases is setting a global storage for project artifacts using `PLATFORMIO_BUILD_DIR <http://docs.platformio.org/en/latest/envvars.html#envvar-PLATFORMIO_BUILD_DIR>`__ system environment variable. For example, ``/tmp/pio-build/$PROJECT_HASH`` (Unix) or ``$[sysenv.TEMP}/pio-build/$PROJECT_HASH`` (Windows)
 * Improved a loading speed of PIO Home "Recent News"
 * Improved `PIO Unified Debugger <https://docs.platformio.org/en/page/plus/debugging.html>`__ for "mbed" framework and fixed issue with missed local variables
 * Introduced `"Release" and "Debug" Build Configurations <http://docs.platformio.org/page/projectconf/build_configurations.html>`__
@@ -145,7 +152,7 @@ PlatformIO 3.0
 
 * Simplify configuration for `PIO Unit Testing <https://docs.platformio.org/page/plus/unit-testing.html>`__: separate main program from a test build process, drop
   requirement for ``#ifdef UNIT_TEST`` guard
-* Override any option from board manifest in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_board.html#more-options>`__
+* Override any option from board manifest in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_board.html#more-options>`__
   (`issue #1612 <https://github.com/platformio/platformio-core/issues/1612>`_)
 * Configure a custom path to SVD file using `debug_svd_path <https://docs.platformio.org/page/projectconf/section_env_debug.html#debug-svd-path>`__
   option
@@ -208,7 +215,7 @@ PlatformIO 3.0
   (`issue #1274 <https://github.com/platformio/platformio-core/issues/1274>`_)
 * Configure a custom firmware/program name in build directory (`example <https://docs.platformio.org/page/projectconf/advanced_scripting.html#custom-firmware-program-name>`__)
 * Renamed ``envs_dir`` option to ``build_dir``
-  in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_platformio.html#build-dir>`__
+  in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_platformio.html#build-dir>`__
 * Refactored code without "arrow" dependency (resolve issue with "ImportError:
   No module named backports.functools_lru_cache")
 * Improved support of PIO Unified Debugger for Eclipse Oxygen
@@ -243,7 +250,7 @@ PlatformIO 3.0
   folder for project's header files
   (`issue #1107 <https://github.com/platformio/platformio-core/issues/1107>`_)
 * Depend on development platform using VCS URL (Git, Mercurial and Subversion)
-  instead of a name in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_general.html#platform>`__.
+  instead of a name in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_general.html#platform>`__.
   Drop support for ``*_stage`` dev/platform names (use VCS URL instead).
 * Reinstall/redownload package with a new ``-f, --force`` option for
   `platformio lib install <https://docs.platformio.org/page/userguide/lib/cmd_install.html>`__
@@ -264,7 +271,7 @@ PlatformIO 3.0
   - Parse library source file in pair with a header when they have the same name
     (`issue #1175 <https://github.com/platformio/platformio-core/issues/1175>`_)
   - Handle library dependencies defined as VCS or SemVer in
-    `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_general.html#platform>`__
+    `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf/section_env_general.html#platform>`__
     (`issue #1155 <https://github.com/platformio/platformio-core/issues/1155>`_)
   - Added option to configure library `Compatible Mode <https://docs.platformio.org/page/librarymanager/ldf.html#compatibility-mode>`__
     using `library.json <https://docs.platformio.org/page/librarymanager/config.html>`__
@@ -300,7 +307,7 @@ PlatformIO 3.0
 * Use a root of library when filtering source code using
   `library.json <https://docs.platformio.org/page/librarymanager/config.html>`__
   and ``srcFilter`` field
-* Added ``monitor_*`` options to white-list for `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+* Added ``monitor_*`` options to white-list for `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #982 <https://github.com/platformio/platformio-core/issues/982>`_)
 * Do not ask for board ID when initialize project for desktop platform
 * Handle broken PIO Core state and create new one
@@ -321,18 +328,18 @@ PlatformIO 3.0
   - Integration with `Eclipse <https://docs.platformio.org/page/ide/eclipse.html>`__ and `Sublime Text <https://docs.platformio.org/page/ide/sublimetext.html>`__
 
 * Filter `PIO Unit Testing <https://docs.platformio.org/page/plus/unit-testing.html>`__
-  tests using a new ``test_filter`` option in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+  tests using a new ``test_filter`` option in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   or `platformio test --filter <https://docs.platformio.org/page/userguide/cmd_test.html#cmdoption-platformio-test-f>`__ command
   (`issue #934 <https://github.com/platformio/platformio-core/issues/934>`_)
 * Custom ``test_transport`` for `PIO Unit Testing <https://docs.platformio.org/page/plus/unit-testing.html>`__ Engine
-* Configure Serial Port Monitor in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+* Configure Serial Port Monitor in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #787 <https://github.com/platformio/platformio-core/issues/787>`_)
 * New `monitor <https://docs.platformio.org/page/userguide/cmd_run.html#cmdoption-platformio-run-t>`__
   target which allows to launch Serial Monitor automatically after successful
   "build" or "upload" operations
   (`issue #788 <https://github.com/platformio/platformio-core/issues/788>`_)
 * Project generator for `VIM <https://docs.platformio.org/page/ide/vim.html>`__
-* Multi-line support for the different options in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__,
+* Multi-line support for the different options in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__,
   such as: ``build_flags``, ``build_unflags``, etc.
   (`issue #889 <https://github.com/platformio/platformio-core/issues/889>`_)
 * Handle dynamic ``SRC_FILTER`` environment variable from
@@ -344,7 +351,7 @@ PlatformIO 3.0
   that were installed from repository
 * Add support for ``.*cc`` extension
   (`issue #939 <https://github.com/platformio/platformio-core/issues/939>`_)
-* Handle ``env_default`` in `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+* Handle ``env_default`` in `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   when re-initializing a project
   (`issue #950 <https://github.com/platformio/platformio-core/issues/950>`_)
 * Use root directory for PIO Home when path contains non-ascii characters
@@ -442,10 +449,10 @@ PlatformIO 3.0
   (`issue #808 <https://github.com/platformio/platformio-core/issues/808>`_,
   `issue #467 <https://github.com/platformio/platformio-core/issues/467>`_)
 * Inject system environment variables to configuration settings in
-  `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+  `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #792 <https://github.com/platformio/platformio-core/issues/792>`_)
 * Custom boards per project with ``boards_dir`` option in
-  `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+  `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #515 <https://github.com/platformio/platformio-core/issues/515>`_)
 * Unix shell-style wildcards for `upload_port <https://docs.platformio.org/page/projectconf/section_env_upload.html#upload-port>`_
   (`issue #839 <https://github.com/platformio/platformio-core/issues/839>`_)
@@ -456,7 +463,7 @@ PlatformIO 3.0
 * Added new `LDF Modes <https://docs.platformio.org/page/librarymanager/ldf.html#ldf-mode>`__:
   ``chain+`` and ``deep+`` and set ``chain+`` as default
 * Added global ``lib_extra_dirs`` option to ``[platformio]`` section for
-  `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+  `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #842 <https://github.com/platformio/platformio-core/issues/842>`_)
 * Enabled caching by default for API requests and Library Manager (see `enable_cache <https://docs.platformio.org/page/userguide/cmd_settings.html#enable-cache>`__ setting)
 * Native integration with VIM/Neovim using `neomake-platformio <https://github.com/coddingtonbear/neomake-platformio>`__ plugin
@@ -479,7 +486,7 @@ PlatformIO 3.0
 3.1.0 (2016-09-19)
 ~~~~~~~~~~~~~~~~~~
 
-* New! Dynamic variables/templates for `“platformio.ini” (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
+* New! Dynamic variables/templates for `"platformio.ini" (Project Configuration File) <https://docs.platformio.org/page/projectconf.html>`__
   (`issue #705 <https://github.com/platformio/platformio-core/issues/705>`_)
 * Summary about processed environments
   (`issue #777 <https://github.com/platformio/platformio-core/issues/777>`_)
diff --git a/docs b/docs
index eefd1f0f..768ccfd2 160000
--- a/docs
+++ b/docs
@@ -1 +1 @@
-Subproject commit eefd1f0f93e5d82b09d7e51fb121b270602e4c89
+Subproject commit 768ccfd2b4a3e508addb48f7f6d1fdebad5d946c
diff --git a/platformio/util.py b/platformio/util.py
index 62882353..d3dbb965 100644
--- a/platformio/util.py
+++ b/platformio/util.py
@@ -209,28 +209,37 @@ def pioversion_to_intstr():
 
 
 def get_project_optional_dir(name, default=None):
-    data = None
+    paths = None
     var_name = "PLATFORMIO_%s" % name.upper()
     if var_name in os.environ:
-        data = os.getenv(var_name)
+        paths = os.getenv(var_name)
     else:
         try:
             config = load_project_config()
             if (config.has_section("platformio")
                     and config.has_option("platformio", name)):
-                data = config.get("platformio", name)
+                paths = config.get("platformio", name)
         except exception.NotPlatformIOProject:
             pass
 
-    if not data:
+    if not paths:
         return default
 
     items = []
-    for item in data.split(", "):
+    for item in paths.split(", "):
         if item.startswith("~"):
             item = expanduser(item)
         items.append(abspath(item))
-    return ", ".join(items)
+    paths = ", ".join(items)
+
+    while "$PROJECT_HASH" in paths:
+        project_dir = get_project_dir()
+        paths = paths.replace(
+            "$PROJECT_HASH",
+            sha1(project_dir if PY2 else project_dir.encode()).hexdigest()
+            [:10])
+
+    return paths
 
 
 def get_home_dir():
@@ -320,12 +329,6 @@ def get_projectboards_dir():
 def get_projectbuild_dir(force=False):
     path = get_project_optional_dir("build_dir",
                                     join(get_project_dir(), ".pioenvs"))
-    if "$PROJECT_HASH" in path:
-        project_dir = get_project_dir()
-        path = path.replace(
-            "$PROJECT_HASH",
-            sha1(project_dir if PY2 else project_dir.encode()).hexdigest()
-            [:10])
     try:
         if not isdir(path):
             os.makedirs(path)