Lionsgate is reviving its Leprechaun franchise with a fresh approach to appeal to a new generation of moviegoers. The Hollywood Reporter was first to report.

Felipe Vargas, known for his award-winning short film Milk Teeth, will direct the new feature project, while Mike Van Waes, who worked on the live-action Lilo & Stitch movie, will handle the script. Roy Lee, a prominent figure in the horror genre, will produce the film through his banner, Vertigo Entertainment, alongside Miri Yoon.

“Thirty years after its debut, this franchise still casts a spell, and we’re thrilled to be bringing it back with a new vision,” Erin Westerman, president of production for Lionsgate’s Motion Picture Group, said in a statement. “Roy and Miri are two of our most trusted producers, especially with this genre, and we’re excited by Felipe’s vision for the film as a director. In his hands, this movie should be very scary and a ton of fun.”

The Leprechaun franchise originated from Trimark Pictures in 1993, starring Warwick Davis. Davis is not expected to reprise his role for the new iteration. Lionsgate acquired Trimark in 2000, making Leprechaun one of the company’s early franchises. The films have maintained popularity over the years, with an annual Leprechaun marathon on the Syfy Network.

Erin Westerman, president of production for Lionsgate’s Motion Picture Group, expressed excitement for the franchise’s revival. The project will be overseen by Meredith Wieck and Jon Humphrey at Lionsgate.

Vargas’s short film Milk Teeth tells the story of a boy in an orphanage who encounters a creature trading coins for teeth. The film received recognition on the festival circuit, winning awards such as the DGA Student Film Award and an Imagen Award.