Insufficient available memory to meet the expected demands of an operation at this time, possibly due to virtual address space fragmentation

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                        This message appears when Visual Studio crashes and virtual memory is low. However, this does not mean that that the virtual memory on your system is low, but rather that Visual Studio is running out of address space. Most commonly, this error occurs on machines with 32-bit operating systems, which limit Visual Studio to a 2GB address space. On 64-bit systems, the error is rare.

There is possibly a solution for this problem from Microsoft.

Download this Microsoft Hotfix:: Click here