When you install Visual Studio 2015 or 2013 it will ask you for extras you want to install. One of them can be the SDK for Windows phone development. If you did not allow that option to be added while installing visual studio you can go to the repair/uninstall option for Visual studio and ask for it to install the SDK for you.
Once you do this, you would install Monogame for Visual Studio. This will give you the framework you are wanting to use (If you want this one).
After doing all of this, you just select the option for Monogame and then Windows 8.1. I am currently using VS 2013 for 8.1
Edit for a note: You will need a professional license for windows 10 devices if you are to emulate a windows phone. If you do not have the professional license, you will need a device.