The project will be produced by Smith and James Lassiter through their Overbrook Entertainment banner. Levy, whose 21 Laps shingle is based at Fox, will direct.
Audrey Wells is writing the script about the island of Manhattan as it breaks loose and sails across the Atlantic Ocean, uniting a father and daughter. “The City That Sailed” has been in development at Fox since 2008.
Levy most recently shot “This Is Where I Leave You” for Warner Bros. Smith was last seen in “After Earth” and will be seen next in “Winter’s Tale.”
The news was first reported by Deadline.com.