The actor will be joining Mark Wahlberg, who plays a former cop turned private detective that discovers a real estate scandal when he is hired by Crowe's mayor to spy on his wife, Deadline reports.
Director Allen Hughes is best known for his co-directed action thriller Book of Eli.
Wahlberg has been keen to star in the film since last November after the project appeared on the Black List, a list of the best scripts without finance.
In November, Wahlberg said: "Broken City I want to do at the end of next year with Allen Hughes directing.
"[It's] on the Black List. It's one of the best unproduced screenplays - an amazing piece of material that should attract amazing talent."
Crowe was most recently touted to play Superman's biological father Jo El in Man of Steel.
The role was previously played by Marlon Brando in the first Superman film.