 <p>The problem was that when I applied the VS Update 3 on VS 2015 I did not check the Microsoft Web Developer Tools option. I had to do the following to get the folder and file in place.</p> <p>Program and Features -> Visual Studio -> right clich and select change -> select modify -> check Microsoft Web Developer Tools -> click update.</p> <p>After the update run the DotNetCore.1.0.0-VS2015Tools.Preview2.exe file again and select repair (this step is necessary).</p> <p>This will create the C:\Program Files (x86)\MSBuild\Microsoft\VisualStudio\v14.0\DotNet.Web and Microsoft.DotNet.Web.targets file</p>