Set against the construction of now iconic Empire State Building in New York, the film will be developed as a potential directing vehicle for Guy Ritchie, according to the Hollywood Reporter.
Kelly will pen the adaptation to be produced by Ritchie and his partner Lionel Wigram.
The 2006 novel revolves around an epic love triangle set in 1930 just as construction on the iconic building begins and the Depression is beginning to take hold.
Irish immigrant Michael Briody, a steelworker on the building who is also running guns for the IRA and Johnny Farell, a bagman for Mayor Jimmy Walker fall for beautiful artist named Grace Masterson.
Ritchie and Warners have worked for the filmmaker's last three movies including the two successful Sherlock Holmes movies.
The filmmaker is working on a big-screen version of "The Man From U.N.C.L.E.", starring Henry Cavill and Armie Hammer, for the studio.
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