Director Guillermo del Toro is reuniting with his Pacific Rim backers Legendary Pictures for a new feature entitled Crimson Peak, which will be his next directorial project.

The director co-wrote the original screenplay with Matthew Robbins, with Lucinda Coxon providing the latest rewrite. Here's how the filmmaker described his latest project.

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"(It's) a very set-oriented, classical but at the same time modern take on the ghost story. It will allow me to play with the conventions of the genre I know and love, and at the same time subvert the old rules."

Guillermo del Toro wrote the script after Pan's Labyrinth and sold it to Universal Pictures. However, the project was placed on the back burner as he began work on Hellboy II: The Golden Army and then the screenplay for The Hobbit: An Unexpected Journey. When Legendary Pictures expressed interest in the script, Universal allowed the filmmaker to move the project over, in exchange for a stake in the film.

The filmmaker also hopes his relationship with Legendary Pictures may lead to the anticipated At the Mountains of Madness finally getting made. The project was shelved by Universal earlier this year, due to its similarities with Prometheus. Here's what he had to say, revealing that they are waiting to see how Pacific Rim does before committing to At the Mountains of Madness.

"They love it, but we just finished Pacific Rim. They want to let that film happen [it opens July 12] and then my hope is, down the line we can do it. People ask how do i choose projects. All the projects in my roster are there because I love them, but the financing process is serendipity. And often, the ones I think will happen don't, and the ones I think won't happen, do."

The director and studio hope to begin production on Crimson Peak in early 2014.