Peter Atencio is directing the pic with Key and Peele producing, along with Peter Principato, Paul Young and Joel Zadak.
The story follows a group of friends posing as drug dealers in order to retrieve a stolen feline. Michael Disco and Sam Brown are overseeing the project for New Line.
Peele penned the script along with Alex Rubens.
Method Man has a handful of films set to bow in the next year, including “The Cobbler,” starring Adam Sandler, and Judd Apatow’s “Trainwreck.”
He is repped by CAA and Smart Girl Productions.