The actor will appear as a detective investigating a number of high-end heists. Affleck's character will also come across a mystery involving his missing daughter and a secret government program.
Jeff Robinov's Studio 8 and Mark Gill's Solstice Studios are partnering on the project.
Rodriguez, who last helmed sci-fi adventure Alita: Battle Angel, is producing with Robinov, Guy Danella and John Graham.
Production is set to start in April.
"Working with Ben on his award-winning projects, including Argo and The Town, I have seen how his versatility and creativity has made him one of the most talented filmmakers both in front of and behind the camera," Robinov said in a statement.
"It's very meaningful to be collaborating with Ben again on this uniquely riveting suspense thriller, and I know he and Robert will make a terrific film together," he continued.
Affleck will next be seen in The Way Back about a man struggling with addiction who becomes the coach of a basketball team at his former high school. The 47-year-old will also be featured in Netflix's The Last Thing He Wanted and in Ridley Scott film The Last Duel with Matt Damon.