The Sony TV TriStar Television production will also feature the previously announced Gabriel Ebert. Ambrose and Ebert will play a married couple.
The pilot is directed by Mike Newell based on a script by Lyn Greene and Richard Levine.
The ensemble series is described as "a grounded, character-driven drama based on Meg Wolitzer’s novel about a group of friends who meet at an arts camp when they’re 15 in 1974. The series chronicles their relationships throughout the next three decades dealing with the great expectations of youth juxtaposed with the realities life hands you as you get older."
Ambrose has been cast as an aspiring actress named Jules who "winds up a struggling therapist with a young child, an unemployable husband (Ebert) and a tiny New York apartment."
Ebert won a Tony Award for his performance in Matilda The Musical.