Ember application fails to load after upgrading it from Ember 2.7 to 2.8

Unable to run Ember application locally after upgrading to Ember 2.8.

bin/ember s
events.js:160
      throw er; // Unhandled 'error' event
      ^
Error: connect ETIMEDOUT 10.63.95.98:4200
    at Object.exports._errnoException (util.js:1012:11)
    at exports._exceptionWithHostPort (util.js:1035:20)
    at TCPConnectWrap.afterConnect [as oncomplete] (net.js:1080:14)