According to The Hollywood Reporter, the "Fruitvale Station" actor is expected to play the lead role in the revamped version.
Jordan, who played Human Torch in "The Fantastic Four", reportedly came up with the idea to redo the "Thomas Crown Affair" and pitched it to MGM.
The studio agreed to develop the project following the star's success with "Rocky" spin-off "Creed".
The original "Thomas Crown Affair" was released in 1968, starring Steve McQueen and Faye Dunaway. It got two Oscar nominations and won one for Best Original Song. A 1999 remake led by Pierce Brosnan and Rene Russo became a commercial hit.