The movie, based on the George Bernard Shaw play, Pygmalion, and 1964 movie, My Fair Lady, featured a recently dumped popular jock, played by Freddie Prinze Jr., who picked out a school art nerd, played by Rachel Leigh Cook, and tried to transform her into the prom queen.
The upcoming project, which will be penned by the original film's writer, R. Lee Fleming, is a gender-swapped version of the original, with Addison cast in the popular role as a hot influencer who tries to take a male outcast and turn him into the prom king.
In addition to the screenwriter, the upcoming version will reunite the 1999 flick's producers, Jennifer Gibgot and Andrew Panay, for the production, while Miramax, the studio who released the original movie, is set to produce the remake.
"This reboot is a welcomed step towards a new generation of Miramax storytelling, part of our greater strategy to leverage our existing library with fresh, re-imagined content in both film and TV," Miramax CEO Bill Block noted to Variety.
Thrilled about the news, Addison shared a screenshot of the Variety article to her Instagram feed, noting how her "dreams [were] coming true" and that she was "so grateful" for all the opportunities that have come her way.