But Scorsese isn't stopping there, as he's got two different Leonardo DiCaprio vehicles in development for after.
The rights to the book were bought for $US5 million, according to the trade.
Variety reports that the two Oscar winners are developing an adaptation of the true-crime book, "Killers of the Flower Moon: The Osage Murders and the Birth of the Federal Bureau of Investigation".
There is no word whether Netflix would give "The Irishman" a wide theatrical release, but "I don't think Martin would accept the fact that one of his movies would just be seen on a small screen and not in movie theaters", said Ferretti, who is not working on the film.
Flower Moon explores the murder of more than 60 wealthy Osage Indians in Oklahoma in the 1920s, the FBI's botched investigation, and how J. Edgar Hoover began to solve the murder mystery.More news: Sen. John McCain Has Surgery to Remove Blood Clot Above Eye
"Scorsese's longtime production designer Dante Ferretti says the director will shoot the recently announced Killers Of The Flower Moon next spring, and that location scouting is already underway". It would appear that either the "The Devil in the White City" script is unfinished or logistical reasons behind Scorsese's shooting schedule is why "Flower Moon" is taking precedence over "White City".
At the tender old age of 74, Martin Scorsese - one of our greatest living directors - is plugging right along like a man half his age.and thank god, because as long as we've always got new Scorsese to look forward to, things ain't all bad.
Scorsese is developing the project with DiCaprio and Imperative Entertainment. The gangster film is expected to have a lengthy production from August to December.
The true story, which is set in the 1920s, follows the murders of people belonging to the Osage Nation in Oklahoma following the discovery of oil in the area.
USA actor Leonardo DiCaprio (L) and Director Martin Scorsese pose during the photocall of Shutter Island on February 8, 2010 in Rome.