I tried the idea of holding down the option button and can open iPhoto that way but it says there are no photos. Ideas?
These are your options:
1. Restore the iPhoto library from the most recent backup that predates the issue.
2. Repair or rebuild the library.
3. Scavenge the library with iPhoto Library Manager independently of iPhoto (Library ▹ Rebuild). Books, calendars, and slideshows won't be preserved.
Retrieving data ...