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Well, well, well...This is it ! Mitchell Hurwitz and Jim Vallely are working on the Arrested Development script !
Isn't that great ?! The information was revealed by the THR website :

"Arrested Development" creator Mitchell Hurwitz and his co-executive producer James Vallely are working on a screenplay for the long-debated feature version of their short-lived Fox series. Even as they prep a new Fox comedy series with "Arrested" star Will Arnett, the writers are spinning more bizarre encounters for the eccentric, spoiled Bluth clan for possible feature production in the spring.


Imagine, which produced the TV show, and Fox Searchlight are producing the film.


Hurwitz had said that he wouldn't start writing a film unless all the main actors, including Jason Bateman, Michael Cera, David Cross, Arnett, Alia Shawkat, Portia de Rossi and Jeffrey Tambor, were committed. Earlier in the year, speculation circulated about which wanted to return as the show's hyper-invested fans pushed from the sidelines and the actors themselves spurred excitement.

Hey T-Bone !

An "Arrested Development" Trio for a new TV show !

"It's the final countdown !"

One week ago I was talking about a profect of a new TV show created by Mitchell Hurwitz and Will Arnett, this project seems to become real. The contract between Arnett and Fox gives to him all the power to create what he wants.
So it's not a surprise if he works with Mitch Hurwitz and Jim Vallely for this untitled serie.

You cand read the original article here :

The Emmy-winning series' creator/executive producer, Mitch Hurwitz, co-star Will Arnett and co-executive producer Jim Vallely have teamed for another single-camera Fox comedy. It stars Arnett as a rich Beverly Hills jackass who falls in love with a charitable tree-hugging woman who can't stand his lifestyle or values.

The project, which has received a script commitment, is being written by Hurwitz, Arnett and Vallely. The comedy is the first project to come out of the development pact that Arnett inked with Fox in October. Arnett recently lent his voice to "Sit Down, Shut Up," Hurwitz's animated comedy for Fox.

Hurwitz and Vallely won two 2005 Emmys for writing the "Righteous Brothers" episode of "Development."

Arnett earned Emmy nominations for his role as part-time magician Gob Bluth on "Development" and for his recent recurring role on NBC's "30 Rock." The actor, who co-stars in "G-Force," will next be seen in "When in Rome" and "Jonah Hex."

It's a pretty good news !

Source : ABC News