Korean production company Hyun Jin Cinema has announced a $40m Japan-Korea-US co-production, Street of Dreams, about legendary Asian-American gangster Montana Joe to star Robert DeNiro, Andy Garcia, and Choi Min-soo.

Raymond De Felitta, whose Two Family House won the Audience Award at Sundance, is directing the film.

The film's producer Fred Roos, who executive produced Lost In Translation and Marie Antoinette, is also credited as co-producer on Godfather II and III.

Roger Towne (The Recruit) is writing the script. Hyun Jin Cinema previously produced the popular comedy My Wife Is A Gangster 3 and prison-break drama Holiday.

Wides Japan, which produced 26 Years Diary, set up the project and Fred Roos' FR Productions is co-producing with Wides and Hyun Jin.

The film looks to start shooting in late November or early December, to be released simultaneously worldwide in summer 2009.

The story centres on the true 1960s figure of Montana Joe, known as the first Asian-American mafia gangster. DeNiro is to play a mafia godfather, while Garcia is a mobster enemy of Montana's. Choi is to play Montana's friend and mentor.

The producers are looking for a Japanese actor to play the Montana role, which requires an English-speaker.

No sales agent is attached yet.