Will Ferrell has signed on to star in and produce the upcoming comedy The House for New Line Cinema. The studio picked up the script by Andrew J. Cohen and Brendan O'Brien, who wrote last year's comedy blockbuster Neighbors, which had strong interest from several different studios. Andrew J. Cohen is also set to make his directorial debut with The House.

The story centers on a married couple, with Will Ferrell playing the husband, who somehow manage to lose their daughter's college fund. To earn back the money they lost, they team up with their neighbors to open an illegal casino out of their basement. New Line Cinema is putting the project on the fast track, with the studio eyeing an August production start.

RELATED: Despicable Me 3 Wins the Weekend Box Office with $75.4M

Will Ferrell is producing with his Gary Sanchez Production partner Adam McKay along with Good Universe. Chris Henchy and Jessica Elbaum are attached to executive produce, with Richard Brener, Michael Disco and Sam Brown overseeing the project for New Line.

Andrew J. Cohen and Brendan O'Brien also wrote Mike and Dave Need Wedding Dates, which has Zac Efron and Adam DeVine attached to star. Will Ferrell will next be seen in Get Hard alongside Kevin Hart, which hits theaters March 27.