Camargo also penned the screenplay for the indie film, which will set The Seagull in rural New England, where a family spends Memorial Day weekend. Camargo's wife, Juliet Rylance, will produce alongside Barbara Romer, founder and CEO of New Globe Theater.
Tony nominee Allison Janney (9 to 5, A View from the Bridge) is in talks to play Elizabeth, a movie star based on the role of Irina Arkadina, with Tony nominee William Hurt (Hurlyburly) as her brother.
Other actors in negotiations for the film include Tony winner Mark Rylance (Jerusalem), Katie Holmes (All My Sons), Russell Means, Jean Reno and Juliet Rylance.
Production is scheduled to begin this summer in upstate New York.