At the start of the month we reported that Greenberg star Ben Stiller would re-team with his writer/director Noah Baumbach on his new film, While We’re Young. James Franco (127 Hours, Pineapple Express) is attached and – at the time – offers were both out to Cate Blanchett and another Greenberg star, Greta Gerwig.

Anne Thompson (via The Playlist) recently confirmed that Gerwig’s schedule didn’t work out and Blanchett has the part of Stiller’s wife. She spoke with Scott Rudin, who worked with Baumbach on Fantastic Mr. Fox, Margot at the Wedding, Greenberg, and will return to produce. Check out the short synopsis below:

A free-spirited Brooklynite twenty-something couple (Franco and a yet-to-be cast actress) who inspire an uptight documentarian (Stiller) and his wife (Blanchett) to loosen up — with comedic consequences.

Baumbach recently worked on the script for Brett Ratner‘s Tower Heist, which is currently filming in NYC, and he also has the rumored project, The Emperor’s Children. It looks like this will be his next though. The team-up of Baumbach and Blanchett certainly has me interested. The actress’ last project I actually loved was I’m Not There, so with one of my favorite directors at the helm, I hope she can regain some cred.

Another great piece of news to surface from this report is the film is planning a summer 2011 shoot in NYC. Rudin is currently looking for a financing partner and distributor.

Are you a Baumbach fan? How does this cast sound?

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