Director duo Josh and Benny Safdie of "Heaven Knows What" fame will helm the project written by Josh Safdie and Ronald Bronstein.
The movie centers on a bank robber's flailing efforts to evade the dragnet closing in on him.Pattinson will star as Connie, according to The Hollywood Reporter.
The script for the film, which will be produced by Sebastian Bear-MCclard of Elara Pictures.
The Safdie brothers, who recently signed with WME, are indie filmmakers whose most recent project, Heaven Knows What, is in theaters. The critically acclaimed film following a young heroin addict (Arielle Holmes) who finds love in the streets of New York was released by Radius-TWC.