Build Failed. See the build log for detail

Question

I create a new project, click compile, and get this error:

Build Failed. See the build log for details.

In the build log there i

Answer 1

Though this is an old post, maybe this could help someone.
In my case, using Xamarin Studio 6.1.4 (build 1), I unchecked
the 'Use MsBuild engine ...' check box under Project Options > Build > General and
the problem disappeared.