In the untitled project, Falcone will star as "a single 37-year-old man who loses everything he has in the real estate collapse and finds himself back home in the house he grew up in … with his parents."
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Falcone is also co-writing the Warner Bros. TV project with "The Looney Tunes Show" writer Larry Dorf. McCarthy will serve as co-executive producer.
Falcone has had numerous TV and movie acting gigs, including a regular role on the "Friends" spinoff "Joey." Notably, he played the air marshal that McCarthy's character, Megan, sat next to on the plane in "Bridesmaids."