I also encountered same problem few days ago..i solved that...Just change the name of MVC project from 'Umbraco' to something else and then it will work fine..
The solution, when I encountered it after installing Umbraco 7.2.12 into an existing but empty project, was to change the assembly name and default namespace from "Umbraco" to the name of the (startup-)project eg. "Website".
In Visual Studio 2017 (applies to many other versions of VS), you can do it like this: