Build error: You must add a reference to System.Runtime

To implement the fix, first expand out the existing web.config compilation section that looks like this by default:

<compilation debug="true" targetFramework="4.5"/>

Once expanded, I then added the following new configuration XML as I was instructed:

  <assemblies>     
    <add assembly="System.Runtime, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" />   
  </assemblies>

The final web.config tags should look like this:

<compilation debug="true" targetFramework="4.5">
  <assemblies>     
    <add assembly="System.Runtime, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" />   
  </assemblies>
</compilation>

Adding a reference to this System.Runtime.dll assembly fixed the issue:

C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework\v4.5.1\Facades\System.Runtime.dll

Though that file in that explicit path doesn't exist on the build server.

I will post back with more information once I've found some documentation on PCL and these Facades.

Update

Yeah pretty much nothing on facade assemblies on the whole internet.

Google:

(Facades OR Facade) Portable Library site:microsoft.com

The only way that worked for me - add the assembly to web.config

<compilation debug="true" targetFramework="4.5">
  <assemblies>     
    <add assembly="System.Runtime, Version=4.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a" />   
  </assemblies>
</compilation>

@PeterMajeed's comment in the accepted answer helped me out with a related problem. I am not using the portable library, but have the same build error on a fresh Windows Server 2012 install, where I'm running TeamCity.

Installing the Microsoft .NET Framework 4.5.1 Developer Pack took care of the issue (after having separately installed the MS Build Tools).

I had this problem in some solutions on VS 2015 (not MVC though), and even in the same solution on one workstation but not on another. The errors started appeared after changing .NET version to 4.6 and referencing PCL.

The solution is simple: Close the solution and delete the hidden .vs folder in the same folder as the solution.

Adding the missing references as suggested in other answers also solves the problem, but the error remains solved even after you remove the references again.

As for TeamCity, I cannot say since my configuration never had a problem. But make sure that you reset the working catalog as a part of your debugging effort.