Visual Studio 2015 Shared Projects

Understanding Shared Projects

Shared Projects allows sharing code, assets, and resources across multiple project types. More specifically, the following project types can reference and consume shared projects:

 Console, Windows Forms, and Windows Presentation Foundation.
 Windows Store 8.1 apps and Windows Phone 8.1 apps.
 Windows Phone 8.0/8.1 Silverlight apps.
 Portable Class Libraries.

Visual Studio 2013 Update 2 first introduced shared projects to provide an easy opportunity to build Universal Windows apps supporting the Windows 8.1/Windows Phone 8.1 pair; now, shared projects are available to all the aforementioned projects and to both C# and Visual Basic. The important thing to underline is that you not only share code but also assets and resources, such as (but not limited to) images and XAML templates. Technically speaking, shared projects are loose assortments of files that are then added, exactly like linked files, to whichever projects reference them. They actually do not target any specific .NET subset and do not produce a .dll library; behind the scenes, when building your solution, the MSBuild tool executes against shared projects the same rules as for linked files.

Source of Information : Visual Studio 2015 Succinctly