The "Gossip Girl" star will play a struggling musician who becomes the guardian of a 12-year-old music prodigy.
Written and directed by Frank Whaley ("Joe the King," "The Jimmy Show"), the film will also feature Green Day singer Billie Joe Armstrong, making his film acting debut, and "Smash" star Debra Messing.
Meester's film work includes "The Roommate," "Country Strong" and "Going the Distance," and her TV work includes "24" and "Veronica Mars."
Armstrong made his stage debut in American Idiot, for which he also wrote the book and lyrics.
Messing's film work includes "The Women," "Lucky You" and "The Wedding Date," and her TV work includes "Will and Grace" and "The Starter Wife." She will star in Outside Mullingar in 2014.