Is there any way to make the location of a link dynamic?

I have a cell linked from another spreadsheet, but every time I have a new
project the folder name changes.

=IF(BoltEdgeDist=-2147483648,'C:\TeklaStructuresModels\[jointdefaults.xls]Defaults'!$C$21,BoltEdgeDist/25.4)

I want the spreadsheet to update based on the location which is retrieved in
another cell in the work workbook. The path:

'C:\TeklaStructuresModels\

changes the file name will always remain the same.

Thanks.

Norm