I've tried to select an alternate location for the SavedTracks. I set the PI prefs, closed PI, relaunched, Generate, and the Saved tracks are still saved in the BIAB folder in my Applications folder. I did create a new folder called SavedTracks where I would like the tracks to be, but still persists.

In fact, when I try to move the tracks from the BIAB folder to the folder I want, it just creates aliases.

There seems to be a bug and it's not changing for me either.
To move the folder copy it then in Finder then hold the Option key while you click the Edit menu it will show Move here.
You can do that then try and create a symlink until they fix it.
You can do that in the terminal or or use something like like https://www.macupdate.com/app/mac/10433/symboliclinker