Edgewood Golf Course has raised $4.7 million to build a golf course in Edgewwood, a suburb of Los Angeles, according to Bloomberg.
The project, which has been in the works for more than a decade, is designed to serve as a new residential development in the area, according a statement from the company.
The company says the project is “the first of its kind” in the US, adding that it has secured the necessary permits to build the course, which will have a maximum of 16 acres.
The property is currently occupied by a golf club and is currently being sold, but the project will be completed as an urban development, the company says.
“Our goal is to build this first residential community in Edgewater, which we believe will be the most sustainable, green, and environmentally responsible way to create a neighborhood in Los Angeles,” the statement read.
Edgewill has previously built golf courses in the city of Edgewater and in the suburbs of Los Angles, but this is the first in the region.
The course, designed by the architect David Gandy, is expected to be completed by the end of 2019.
The $4 million project was originally scheduled to cost $3.8 million, but Bloomberg says that the company plans to raise $4 billion to finance the project.
The golf course will consist of two courses.
The first will be a five-hole course with a maximum hole length of 6,000 feet, while the second will be two-and-a-half-hole golf course.
The Edgewoood site is located on Edgewendale Road, between Edgewall and Woodland Avenues.
Edgewater is a predominantly African-American community in the South Los Angeles area, and has been home to some of the country’s wealthiest and most powerful families for generations.