Written by "Nashville" and "Life Unexpected" alum Taylor Hamra, the untitled comedy follows a commitment-phobe bachelor as he reconnects with his friend who has just broken up with the woman he has been with since pre-school.
Iglesias is attached to star as well as executive produce the project alongside Hamra and Seacrest, as well as Nina Wass and Andrea Shay of Ryan Seacrest Productions.
The comedy hails from CBS Television Studios. Joe Meloche, Jay Lavender, Anthony Edwards and Cheryl Dollins will also executive produce.
The new project reunites Iglesias with ABC after the comedian's semi-autobiographical pilot "The Fluffy Shop" was not picked up to series last season.
The development order comes in the midst of the 2017 pilot season. ABC already has two comedy pilots in the works: "Libby & Malcolm," from Vijay Patel and "Black-ish" creator Kenya Barris, and "Raised by Wolves," from "One Mississippi" and "United States of Tara" creator Diablo Cody.
On the drama side, the network has the time-travel refugee drama "The Crossing," the magician crime drama "Deception," an untitled Shondaland legal drama and a Reba McEntire-led dramedy from "Desperate Housewives" and "Devious Maids" creator Marc Cherry.