The answers provided by Dai Bok and emalamisura work fine as long as you use Visual Studio 2012.
For VS 2013 this fails as well. In order to make this work with all versions of Visual Studio you should:
- Open the project file (.csproj) of the project failing to load
- Search for
<Import Project="$(MSBuildExtensionsPath)\Microsoft\VisualStudio\v10.0\Web\Microsoft.Web.Publishing.targets" /> - Change it to
<Import Project="$(MSBuildExtensionsPath)\Microsoft\VisualStudio\v$(VisualStudioVersion)\Web\Microsoft.Web.Publishing.targets" /> - Reload the project
That will set the correct version of Visual Studio dynamically and properly.