While there aren't a lot of details regarding the plot, sources told Variety that it centers on a young boy growing up in Los Angeles who is learning life lessons along with his skateboarding friends in the mid-1990s. Hill will remain behind the camera for the film rather than starring in it. The production start date has not yet been set.
Though his foray into directing is a new pursuit, he has ventured into scriptwriting previously. He contributed to 21 Jump Street and has written for his animated series, Allen Gregory, as well as worked on screenplays, including The Adventurer's Handbook.
The 32-year-old actor and soon-to-be-director has explored a range of roles through his career, from comedic to dramatic. He earned Oscar nominations for his portrayals in The Wolf of Wall Street and Moneyball.
Hill currently stars in the action comedy War Dogs, which is based on a true story about two Miami Beach stoners who receive a $300 million deal with the U.S. to arm the Afghan military during the Iraq War. He also recently appeared in the Coen Brothers' show business comedy, Hail Caesar!. Earlier this month, Hill hosted Saturday Night Live for the fourth time.