Building hex files fails - ext_flash

As stated in the original post, I'm using Quartus 16.1 with the Nios IDE included with it. The exact error message is also included in the original post.

The problem occurs with any of the templates, including the count_binary template program, which makes me think my issue is related to my SOPC.

Here is a link to the project on github: https://github.com/samdejong86/arria-v-adc-ethernet

More specifically, here is the qsys file: https://raw.githubusercontent.com/samdejong86/arria-v-adc-ethernet/master/nios_cpu_qsys.qsys (https://raw.githubusercontent.com/samdejong86/arria-v-adc-ethernet/master/a5gx_starter_fpga_bup_qsys.qsys)