Variety.com said Affleck will make the movie with Miramax, producer Sean Bailey and writer Aaron Stockard.
The team previously collaborated on Affleck's critically acclaimed directorial debut "Gone Baby Gone."
Affleck and Bailey produced "Baby," while Stockard -- a former assistant to Affleck's long-time friend Matt Damon -- co-wrote the screenplay with Affleck, and Miramax distributed the movie, the trade newspaper said.
"Blade" is about two childhood friends from Chicago who commit petty crimes in their youth, then grow up to follow different paths in life, only to be reunited years later, Variety.com said.
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