I\'ve been trying to get the emulator to work for days. Previously I tried the Windows Phone 8.1 Emulator as well as the Windows 8.1 Simulator and both were stuck at loading
I contacted the Visual Studio Team a couple of weeks ago and looks like they have fixed this issue in the latest update. And here is how I finally got it all working.
That's all! After all these are done, both my Simulator and Emulator are loading up fine.