Designtime host throws a Nullreference exception when trying to build a project with reference not resolved

[Praburaj]

For example - create a vnext console application:

{
    "dependencies": {
        "NotExistingPackage":  "1.1.1" /*Include a nuget package that does not exist*/
    },

    "frameworks" : {
        "net451" : { },
        "k10" : { 
            "dependencies": {
                "System.Console": "4.0.0.0"
            }
        }
    }
}

Try doing a F5 or Ctrl + F5 to see design time host throws this error. When doing a k run or Ctrl + F5 I do see an error that this package is not restored.

Error   1   Timed out waiting for build to complete in the design time host"    C:\Program Files (x86)\MSBuild\Microsoft\VisualStudio\v14.0\AspNet\Microsoft.Web.AspNet.targets 133 5   ConsoleApp5

Error   2   System.NullReferenceException: Object reference not set to an instance of an object.
   at Microsoft.Framework.DesignTimeHost.Models.OutgoingMessages.ReferenceDescription.Equals(Object obj)
   at System.ValueType.Equals(Object obj)
   at System.Collections.Generic.ObjectEqualityComparer`1.Equals(T x, T y)
   at System.Linq.Enumerable.SequenceEqual[TSource](IEnumerable`1 first, IEnumerable`1 second, IEqualityComparer`1 comparer)
   at Microsoft.Framework.DesignTimeHost.Models.OutgoingMessages.ReferencesMessage.Equals(Object obj)
   at System.Object.Equals(Object objA, Object objB)
   at Microsoft.Framework.DesignTimeHost.ApplicationContext.IsDifferent[T](T local, T remote)
   at Microsoft.Framework.DesignTimeHost.ApplicationContext.Reconcile()
   at Microsoft.Framework.DesignTimeHost.ApplicationContext.DoProcessLoop()
   at Microsoft.Framework.DesignTimeHost.ApplicationContext.ProcessLoop(Object state)       0   0   ConsoleApp5