An estimated $2.8 billion loan will be given to Layton Construction for a $2 billion construction loan.
The $2-billion loan is a total of $2,900 million.
The total is $2 million for every home that the company builds, according to CNBC.
Layton is hoping to finish work on the $300 million project in 2019.
The company has been struggling to come up with funding for its construction, according the AP.
The loan was approved in November, the company said in a statement.
The news comes as the nation’s construction industry continues to face a severe downturn.
Construction companies across the country are reporting record losses in the construction industry, and many are scrambling to find ways to make ends meet.
The U.S. is in its sixth straight year of record-low construction spending.
It is expected to take more than two years for the economy to recover from the recession, the National Association of Home Builders said in March.