Naomi Watts have been set to star oppositeJake Gyllenhaal inDemolition, the romantic drama to be directed byDallas Buyers Club helmerJean-Marc Vallee. Black Label Media and Sidney Kimmel Entertainment will finance and produce, and Mr. Mudd will produce after developing the project and bringing it to Black Label.

Deadline’s Mike Fleming Jr.broke in June that Gyllenhaal was joining the pic from Bryan Sipe’s Black List script. He plays a young investment banker struggling to understand his emotional unraveling after the tragic death of his wife. Suddenly a woman he meets in a chance encounter changes his life forever. Principal photography begins September 15 in New York City. Sierra/Affinity is handling international sales at the Toronto Film Festival that kicks off today.

Both Gyllenhaal and Watts will be in Toronto premiering other projects, him for the Dan Gilroy-directed crime drama Nightcrawler and her for While We’re Young and the Bill Murray-starrer St. Vincent. Watts also stars in Alejandro Gonzalez Inarritu’s Birdman which is making the fest rounds this fall starting with Venice. Vallee’s latest pic, the Reese Witherspoon-starrer Wild, just premiered at Telluride and will also be at TIFF.