The movie pairs Derick Martini, director of the 2008 coming-of-age drama "Lymelife," with Bret Easton Ellis, sometime novelist and Twitter provocateur. Martini will slide behind the camera while Easton Ellis will handle screenwriting duties.
The film is set in a insular Midwestern town that shoulders a curse that claims the life of one high school senior every year. Heathcote will play a student who thinks she is the next victim.
In addition, Penelope Mitchell, who will star in Netflix's upcoming original series "Hemlock Grove," will play an unspecified leading role.
Till's casting was previously announced. The young actor is best known for his work as a mutant in 2011's "X-Men: First Class."
"The Curse of Downers Grove" is being financed by private equity investors and will begin production this spring.