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After a reboot and some more research I found this post from a blog. The error described is not the same error I am seeing, however, it was close enough to warrant a try.
Follow the steps:
%LocalAppData%\Microsoft\VisualStudio\12.0\
(in C:\users\'%userName%'\AppData\Local\Microsoft\VisualStudio\12.0\)Visual studio will recreate the folder and all will be well with the world (or at least VS). I love a simple solution, and I hope its of use to anybody else who runs into this issue!
I had a same problem I did small change for Jake Answer
1 Close Visual Studio
2 Search ComponentModelCache Folder
3 Rename folder
4 Restart the visual Studio
And it start to work
It happened to me again then this time I tried Web Essentials 2013.5 then Its start to work. Hope this will help you.
Running windows 8.1, VS2013.3 and was able to find the folder. Using the find function in 8.1 did not find the folder, but looking into the %APPDATA% folder I was directed to a Roaming folder. Then by going one level up I did see the local folder in AppData.
The final path where I was able to find the folder was the same as mentioned above. C:\Users\\AppData\Local\Microsoft\VisualStudio\12.0
Renaming the folder did work.
I'm afraid that answer is not necessarily correct. In my Windows 8.1 + Visual Studio 2013 for Web (12.0.30723.00 Update 3), there was no ComponentModelCache folder.
Instead, what I did is ran all updates for VS2013 and then went to Control Panel/Programs and Features and performed a repair. Voila, that worked and I think may be a better overall solution.
Yes I had this same problem with VS2013 and WIndows 7. Renamed folder
C:\Users\YourUsername\AppData\Local\Microsoft\VisualStudio\12.0
Installing Web Essentials 2013 for VS 2013 as suggested here Project does not load after installing visual studio 2013 update 2 in Sagar S.'s solution, worked for me with VS 2013 Update 4.
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