MulanfilmmakerNiki Carohas signed on to directBeautiful RuinsforSam Mendes' Neal Street banner andSteven Spielberg’s Amblin Partners, the studio announced Tuesday.

The film is based onJess Walter’s bestselling novel, and will be adapted by scribesMark HammerandChiara Atik, working off an earlier draft fromMicah Fitzerman-BlueandNoah Harpster.Varietybroke the news.

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Set in an Italian seaside village in 1962, the story follows a charming young man who runs a hotel with no guests – that is, until an American starlet –Elizabeth Taylor, I presume – arrives fresh from the set of Cleopatra and captures his heart. Five decades later, a jaded assistant to a formerly powerful producer gets caught up in the magic of the Italian’s story and takes it upon herself to find a happy ending.

Beautiful Ruinsis described as a romantic social satire about Hollywood culture. The book jumps around in terms of time and place, and relies heavily on excepts of letters, screenplays and novels being written by the characters.

The project was initially developed by directorTodd Field, who co-wrote a script with Walter and even attachedImogen Pootsto star, though that version never got off the ground. Mendes got his hands on the book in September 2016, and he’ll produce with his Neal Street partnersPippa HarrisandJulie Pastor, whileNicolas Brownwill serve as an executive producer. Amblin’sJeb BrodyandMia Maniscalcowill oversee the project for the studio.

Beautiful Ruinsreunites Amblin with Mendes, whose1917won three Oscars and earned $375 million worldwide. Mendes started his filmmaking career working with Spielberg at DreamWorks, where he madeAmerican BeautyandThe Road to Perdition.

Caro’s live-action adaptation ofMulanis now slated to hit theaters on Aug. 21. She previously directedWhale RiderandNorth Country, though my favorite film of hers has to beMcFarland, USA, an inspirational sports movie about a predominantly Latino cross-country team coached byKevin Costner.

Caro is one of the few female filmmakers who has been empowered with a nine-figure budget, andMulanmay very well be the most expensive movie ever made by a female director, though the budget ofChloe Zhao’s Marvel movieThe Eternalsremains unknown. It’s clear that major studios trust Caro, who recently won a DGA award for Netflix’sAnne with an E, and also directed the pilot for Amazon’sDaisy and the Six. For more onMulan, including why Captain Li Shang isn’t in the remake,click here.