You may consider storing the content in a resource file and embed it in a class library. Or perhaps do a clever virtual directory mapping in your IIS setup. However, the best solution is simply to compile the views into a class library using Razor Generator.
A larger web projects would typically consist not only of front end web project, but would include additional class libraries and offload some of the heavy processing work to service or console apps. The common problem is then how do you update the front-end and signal the site that some work has been completed.