Walter Hill has signed on to develop and direct a remake of the 1962 classic What Ever Happened to Baby Jane? with The Aldrich Company.

The original classic starred Bette Davis as Jane Hudson, a former child star who lives an isolated life with her sister, Blanche (Joan Crawford), after a tragic accident ended Blache's movie career and left her crippled. Here's what the filmmaker had to say about the remake.

"The two equal leads demand great performers, that is a given. The intensity of the Gothic storyline makes a reconfiguration of the drama still a potentially searing experience. The idea is to make a modern film without modernizing the period. It needs to resonate the golden age of Hollywood."

Walter Hill will write the screenplay and direct. The original director, Robert Aldrich (The Dirty Dozen), retained the rights, which are now controlled by The Aldrich Company, run by his daughter Adell Aldrich.

No production schedule was given. Walter Hill's latest directorial endeavor, Bullet to the Head starring Sylvester Stallone, arrives in theaters February 1, 2013.