diff --git a/package.json b/package.json
index 3d4181e55..330003363 100644
--- a/package.json
+++ b/package.json
@@ -46,7 +46,7 @@
     "nslog": "^1.0.1",
     "oniguruma": "^3.0.6",
     "optimist": "0.4.0",
-    "pathwatcher": "^2.6.0",
+    "pathwatcher": "^2.6.1",
     "property-accessors": "^1",
     "q": "^1.0.1",
     "random-words": "0.0.1",
diff --git a/spec/project-spec.coffee b/spec/project-spec.coffee
index 32022ca98..fed7733a3 100644
--- a/spec/project-spec.coffee
+++ b/spec/project-spec.coffee
@@ -37,6 +37,32 @@ describe "Project", ->
         deserializedProject.getBuffers()[0].destroy()
         expect(deserializedProject.getBuffers().length).toBe 0
 
+
+    it "does not deserialize buffers when their path is a directory that exists", ->
+      pathToOpen = path.join(temp.mkdirSync(), 'file.txt')
+
+      waitsForPromise ->
+        atom.project.open(pathToOpen)
+
+      runs ->
+        expect(atom.project.getBuffers().length).toBe 1
+        fs.mkdirSync(pathToOpen)
+        deserializedProject = atom.project.testSerialization()
+        expect(deserializedProject.getBuffers().length).toBe 0
+
+    it "does not deserialize buffers when their path is inaccessible", ->
+      pathToOpen = path.join(temp.mkdirSync(), 'file.txt')
+      fs.writeFileSync(pathToOpen, '')
+
+      waitsForPromise ->
+        atom.project.open(pathToOpen)
+
+      runs ->
+        expect(atom.project.getBuffers().length).toBe 1
+        fs.chmodSync(pathToOpen, '000')
+        deserializedProject = atom.project.testSerialization()
+        expect(deserializedProject.getBuffers().length).toBe 0
+
   describe "when an editor is saved and the project has no path", ->
     it "sets the project's path to the saved file's parent directory", ->
       tempFile = temp.openSync().path
diff --git a/src/project.coffee b/src/project.coffee
index e36d954c7..fd04d7db7 100644
--- a/src/project.coffee
+++ b/src/project.coffee
@@ -66,9 +66,16 @@ class Project extends Model
     buffers: _.compact(@buffers.map (buffer) -> buffer.serialize() if buffer.isRetained())
 
   deserializeParams: (params) ->
-    params.buffers = params.buffers.map (bufferState) -> atom.deserializers.deserialize(bufferState)
-    params
+    params.buffers = _.compact params.buffers.map (bufferState) ->
+      # Check that buffer's file path is accessible
+      if bufferState.filePath
+        try
+          fs.closeSync(fs.openSync(bufferState.filePath, 'r+'))
+        catch error
+          return unless error.code is 'ENOENT'
 
+      atom.deserializers.deserialize(bufferState)
+    params
 
   ###
   Section: Event Subscription
@@ -219,8 +226,7 @@ class Project extends Model
 
     if filePath?
       try
-        fileDescriptor = fs.openSync(filePath, 'r+')
-        fs.closeSync(fileDescriptor)
+        fs.closeSync(fs.openSync(filePath, 'r+'))
       catch error
         # allow ENOENT errors to create an editor for paths that dont exist
         throw error unless error.code is 'ENOENT'