The Brian Tucker-penned script centres on a private detective who gets drawn into New York City's corrupt mayoral race. Broken City appeared on the 2008 'Black List', an annual compendium of the best unproduced scripts in Hollywood.
Speaking to MTV about the project, Wahlberg - who will play lead character Billy Taggart - called it an "amazing piece of material".
"Broken City I want to do at the end of next year with Allen Hughes directing," he said. "[It's] on the Black List. It's one of the best unproduced screenplays - an amazing piece of material that should attract amazing talent."
Wahlberg compared the movie to Roman Polanski's crime classic Chinatown and LA Confidential.
The 39-year-old recently confirmed that he will star in a movie based on video game Uncharted.