Snipes will play an ex-CIA operator who is reactivated to take out a renegade agent, The Hollywood Reporter said.
Shooting is set to begin early next year in Britain.
Lighthouse was launched in Munich this year with about $25 million in private funds to invest in as many as five feature projects.
Other Lighthouse films include "Marlowe" and "Cruel & Unusual Punishment," both to be produced by British film veteran Roland Joffe, and the sequel "Showgirls 2."
Celebrity Families of 2014 [PHOTOS]
Reports: Mila Kunis gives birth to baby girl