The production company is Lexicon Entertainment, in association with Room in the Sky Films. Production began Wednesday in Los Angeles with shooting planned for several weeks.
Producers on the project are Mark Mathias Sayre, Troy Daniel Smith, Walters and Jonathan Piumelli. Executive producers are Paul Thomas Anderson, Steven Swadling, and Larry Nealy with Justin Foia co-producing.
Walters is directing from her original screenplay, in which Le Gros portrays a famous novelist seeking to write a more serious book, only to find himself tumbling down a spiral of obsession that may leave his most important relationships in shambles, including his marriage.
Mira Sorvino stars as his wife, Stacey Oristano is his assistant and Dominic Monaghan is his agent. “Waterlily Jaguar” also stars Christopher Backus and Steven Swadling.
Walters and Sayre recently worked together on Anthony O’Brien’s drama “Doubting Thomas.” Le Gros’ credits include “Justified” and “Girls.” He stars with Jon Hamm and Ellen Burstyn in “Nostalgia,” which was picked up at the Sundance Film Festival by Bleecker Street.