Here’s how I fixed the issue:
First, reset the Visual Studio Component Cache by closing Visual Studio and deleting this folder:
C:\Users\[Username]\AppData\Local\Microsoft\VisualStudio\14.0\ComponentModelCache
And finally, check the web.config files and change:
<appSettings>
<add key="webpages:Version" value="2.0.0.0" />
...
</appSettings>
to
<appSettings>
<add key="webpages:Version" value="3.0.0.0" />
...
</appSettings>