No valid MSBuild was detected for the selected target.

Output

1>------ Build started: Project: Blank, Configuration: Release Windows-x64 ------
1>  Your environment has been set up for using Node.js 0.12.7 (x64) and npm.
1>  ------ Ensuring correct global installation of package from source package directory: C:\PROGRAM FILES (X86)\MICROSOFT VISUAL STUDIO 14.0\COMMON7\IDE\EXTENSIONS\APACHECORDOVATOOLS\packages\vs-tac
1>  ------ Name from source package.json: vs-tac
1>  ------ Version from source package.json: 1.0.13
1>  ------ Package already installed globally at correct version.
1>  ------ Cordova tools 5.3.1 already installed.
1>  ------ Build Settings:
1>  ------ Build Settings:
1>  ------    platformConfigurationBldDir: C:\Apps\Windows\Blank\Blank\bld\Windows-x64\Release
1>  ------    platformConfigurationBinDir: C:\Apps\Windows\Blank\Blank\bin\Windows-x64\Release
1>  ------    buildCommand: build
1>  ------    platform: Windows-x64
1>  ------    cordovaPlatform: windows
1>  ------    configuration: Release
1>  ------    cordovaConfiguration: Release
1>  ------    projectName: Blank
1>  ------    projectSourceDir: C:\Apps\Windows\Blank\Blank
1>  ------    npmInstallDir: C:\Users\juan.nicholls\AppData\Roaming\npm
1>  ------    language: en-US
1>  ------    changeList.changedFilesIos: bower.json,res\icons\android\icon-72-hdpi.png,res\screens\android\screen-mdpi-landscape.png,merges\android\scripts\android2.3-jscompat.js,merges\windows\scripts\winstore-jscompat.js,res\icons\ios\icon-60.png,res\screens\ios\screen-iphone-landscape-736h.png,res\icons\windows\StoreLogo.scale-100.png,www\scripts\index.js,res\icons\android\icon-48-mdpi.png,res\icons\ios\icon-72.png,res\icons\ios\icon-76.png,res\screens\ios\screen-ipad-portrait-2x.png,plugins\cordova-plugin-whitelist\NOTICE,res\screens\ios\screen-iphone-portrait-2x.png,res\icons\windows\Square71x71Logo.scale-240.png,merges\android\scripts\platformOverrides.js,plugins\cordova-plugin-whitelist\src\android\WhitelistPlugin.java,res\screens\android\screen-hdpi-portrait.png,www\css\index.css,res\icons\windows\StoreLogo.scale-240.png,res\screens\ios\screen-ipad-landscape.png,res\icons\ios\icon-60-3x.png,plugins\cordova-plugin-whitelist\whitelist.js,plugins\fetch.json,config.xml,res\screens\wp8\SplashScreenImage.jpg,res\screens\ios\screen-ipad-landscape-2x.png,res\screens\ios\screen-iphone-568h-2x.png,res\icons\windows\Square150x150Logo.scale-100.png,package.json,res\screens\android\screen-ldpi-landscape.png,res\icons\windows\Wide310x150Logo.scale-240.png,res\icons\windows\Wide310x150Logo.scale-100.png,res\icons\ios\icon-72-2x.png,res\icons\ios\icon-76-2x.png,res\icons\ios\icon-small.png,res\icons\windows\Square30x30Logo.scale-100.png,plugins\cordova-plugin-whitelist\plugin.xml,build.json,res\icons\wp8\Background.png,www\index.html,res\icons\ios\icon-40.png,res\icons\ios\icon-60-2x.png,res\screens\android\screen-ldpi-portrait.png,plugins\cordova-plugin-whitelist\package.json,plugins\cordova-plugin-whitelist\CONTRIBUTING.md,res\native\android\ant.properties,res\icons\windows\Square310x310Logo.scale-100.png,www\scripts\platformOverrides.js,taco.json,res\icons\windows\Square150x150Logo.scale-240.png,res\icons\android\icon-36-ldpi.png,merges\windows\scripts\platformOverrides.js,res\screens\ios\screen-iphone-portrait.png,Project_Readme.html,res\screens\android\screen-xhdpi-portrait.png,res\icons\ios\icon-50-2x.png,res\icons\ios\icon-57-2x.png,res\icons\ios\icon-50.png,res\icons\ios\icon-57.png,res\icons\ios\icon-small-2x.png,plugins\cordova-plugin-whitelist\LICENSE,res\icons\windows\Square70x70Logo.scale-100.png,res\screens\windows\SplashScreen.scale-240.png,plugins\cordova-plugin-whitelist\src\ios\CDVNavigationWhitelistPlugin.h,res\icons\android\icon-96-xhdpi.png,res\icons\wp8\ApplicationIcon.png,res\icons\ios\icon-40-2x.png,res\screens\ios\screen-iphone-portrait-667h.png,res\screens\android\screen-hdpi-landscape.png,res\screens\windows\SplashScreenPhone.scale-240.png,res\screens\windows\SplashScreen.scale-100.png,res\screens\ios\screen-iphone-portrait-736h.png,res\screens\ios\screen-ipad-portrait.png,plugins\cordova-plugin-whitelist\RELEASENOTES.md,res\screens\android\screen-xhdpi-landscape.png,plugins\cordova-plugin-whitelist\src\ios\CDVNavigationWhitelistPlugin.m,plugins\cordova-plugin-whitelist\README.md,res\icons\windows\Square44x44Logo.scale-240.png,res\screens\android\screen-mdpi-portrait.png
1>  ------    changeList.deletedFilesIos:
1>  ------    changeList.addedPluginsIos:
1>  ------    changeList.deletedPluginsIos:
1>  ------    changeList.addedPlugins:
1>  ------    changeList.deletedPlugins:
1>  ------ Platform windows already exists
1>  ------ Updating plugins
1>  ------ Currently installed plugins: cordova-plugin-whitelist@1.0.0
1>  ------ Currently installed dependent plugins:
1>  ------ Currently configured plugins:
1>  ------ Preparing platform: windows
1>  Generating config.xml from defaults for platform "windows"
1>  Calling plugman.prepare for platform "windows"
1>  Preparing windows project
1>  Processing configuration changes for plugins.
1>  Iterating over installed plugins: [ 'cordova-plugin-whitelist' ]
1>  Writing out cordova_plugins.js...
1>  ------ Copied C:\Apps\Windows\Blank\Blank\bin\Windows-x64\Release\Microsoft.AppxPackage.Metadata.Overrides.props to platforms\windows\Microsoft.AppxPackage.Metadata.Overrides.props
1>  ------ Building platform: windows
1>  Release
1>  ------ Build configuration options: --release
1>  Running command: cmd "/s /c "C:\Apps\Windows\Blank\Blank\platforms\windows\cordova\build.bat --release --archs=x64 --win --buildConfig=C:\Apps\Windows\Blank\Blank\build.json""
1>  Reading build config file: C:\Apps\Windows\Blank\Blank\build.json
1>MDAVSCLI : error : No valid MSBuild was detected for the selected target.
1>  Command finished with error code 2: cmd /s /c "C:\Apps\Windows\Blank\Blank\platforms\windows\cordova\build.bat --release --archs=x64 --win --buildConfig=C:\Apps\Windows\Blank\Blank\build.json"
1>ERROR building one of the platforms : error : cmd: Command failed with exit code 2
1>  You may not have the required environment or OS to build this project
1>MDAVSCLI : error : cmd: Command failed with exit code 2
========== Build: 0 succeeded, 1 failed, 0 up-to-date, 0 skipped ==========
========== Deploy: 0 succeeded, 0 failed, 0 skipped ==========

I am getting the same error.
I tried using Visual Studio 2015 for ionic project.
Please let me know incase someone finds a solution.