Matt Tyrnauer has been set to direct a feature documentary about Studio 54 that will tell the no-holds-barred story of Ian Schrager and Steve Rubell and their 1970s-defining Manhattan nightclub. Shooting begins in May on the untitled project, which will be produced by Passion Pictures’ John Battsek as well as Tyrnauer and Corey Reeser’s Altimeter Films.

Battsek’s London-based Passion Pictures was behind this past year’s Listen To Me Marlon and the 2012 Best Documentary Feature Oscar winner Searching For Sugar Man. Tyrnaur last directed and produced 2010’s Valentino: The Last Emperor.

“For me the story of the friendship between Ian and Steve and the craziness of the club they created is also the story of an epoch in social history,” Tyrnauer said. “In many respects they created the New York of the ’70s that is now the stuff of legend. Its impact on the culture of the world was enormous. For us to have full access to Ian, his story, his archive and all the people who orbited his life back then, and now, is a really exciting cinematic opportunity.”

Added Battsek: “This is a film that will enable us to showcase amazing music, style, archive and the more outrageous aspects of nighttime ’70s New York which we know will translate into a really gratifying theatrical experience for the international audiences.”

Tyrnauer and Reeser’s Altimeter Films just wrapped Reflections, a documentary on prolific architect Jean Nouvel. Among several other projects, the pair’s Once Upon A Time In Beverly Hills, a feature film based on Tyrnauer’s Vanity Fair article about Los Angeles socialite Janet de Cordova and her relationship with her housekeeper, is in development at HBO.

Altimeter Films and Tyrnauer are repped by UTA and Management 360.

Passion Pictures also produced this year’s Oscar-nominated docu Winter On Fire.