Created by Chuck MacLean and based on an original idea by Ben Affleck, the series is set in 1990s Boston.
It is slated to premiere in 2019 and will co-star Jonathan Tucker, Mark O'Brien, Jill Hennessy, Lauren E. Banks, Amanda Clayton, Kevin Chapman, Jere Shea and Kevin Dunn.
Affleck and Matt Damon are executive producing the project.
"City on a Hill has the veneer of a classic Boston cops-and-robbers drama, but actually dives head first into challenging the very institutions it depicts," David Nevins, president and chief executive officer of Showtime Networks, said in a statement.
"In reality, the series is a penetrating look at the larger criminal justice system and those who operate within it, with mesmerizing performances by Kevin Bacon and Aldis Hodge anchoring the suspense."
The news arrived shortly after Bacon announced that a pilot he starred in for a possible Syfy series based on his classic creature feature Tremors would not be going forward.
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