Matt Damon plans to make his feature directoring debut in an untitled, mid-budget drama that he and John Krasinski co-wrote and will star in together for Warner Bros.Project will be set up at Krasinski’s Sunday Night Productions banner. Chris Moore will produce. Pic is not the long-rumored “Father Daughter Time,” which many speculated about in June, when Damon said he was considering a directing project with Krasinski in the cast. Instead, project is something Krasinski came up with and developed with author Dave Eggers (who co-wrote Krasinski-starrer “Away We Go”). Damon would play a salesman who arrives in a small town only to have his whole life called into question. Krasinski’s role was not revealed. Warner Bros. has yet to greenlight the project, and no individual deals are in place, though preliminary plans are to shoot the project on the East Coast in the near future. Jesse Ehrman is overseeing for Warner Bros. Sources tell Variety that pic would be budgeted around $12 million and that the duo will try to get a script finished within the next month. Both Damon and Krasinski have dabbled with off-screen work: Damon’s career took off after he penned and starred in Miramax pic “Good Will Hunting,” which won him an Oscar for original screenplay. Krasinski only recently started his writing career, having penned and directed the IFC pic “Brief Interviews with Hideous Men.” Damon is currently filming Sony/MRC co-production “Elysium.” Krasinski can still be seen on the NBC skein “The Office.” Both thesps are repped by WME.