To be directed by Daniel Sullivan, the play is to begin previews Feb. 8, with an opening night set for March 3.
McDormand earned an Oscar for her work in the film "Fargo." On Broadway, she has starred in the 1988 revival of "A Streetcar Named Desire." She most recently appeared in the off-Broadway production of "North Atlantic."
Lindsay-Abaire is the author of "Rabbit Hole."
"Welcome to Southie, a Boston neighborhood where a night on the town means a few rounds of bingo ... where this month's paycheck covers last month's bills ... and where Margie Walsh has just been let go from yet another job," said a synopsis of "Good People." "Facing eviction and scrambling to catch a break, Margie thinks an old fling who has made it out of Southie might be her ticket to a fresh new start. But is this apparently self-made man secure enough to face his humble beginnings? Margie is about to risk what little she has left to find out."
Additional casting and the creative team for "Good People," as well as other listings information, will be announced in coming weeks, MTC said Wednesday.