Da Brick focuses on the life of a young black man living in New Jersey, Deadline reports.
The project is being developed by a team including Oscar-nominated filmmaker Spike Lee and Entourage creator Doug Ellin.
The show is thought to be loosely based on the life of Mike Tyson, who is also heavily involved in the potential series.
Da Brick, which has been written by John Ridley, has previously been described by Ellin as "Entourage meets The Wire".
The team behind the project is now looking for a young black actor to take on the lead role.
Ellin is already developing another project for HBO called 40, which will star Ed Burns and Michael Rapaport.
Other shows in the works at the cable network include a drama starring The Help's Viola Davis, a new vehicle for Julianne Moore, and Aaron Sorkin's latest More As This Story Develops.