MVP Studios said today it is kicking off production next month on the live-action family pic A Little Mermaid, which will serve as the first project for the new company founded by Robert Molloy, who is the grandson of former New York Yankees owner George Steinbrenner, and producer Armando Gutierrez. Poppy Drayton, Loreto Peralta and Shirley MacLaine are set to star in Mermaid, with Chris Bouchard directing. The film will be shot in Georgia for a 2017 release.

In the Blake Harris-penned screenplay, a young orphan (Peralta) discovers a beautiful and enchanting creature (played by Drayton) she believes to be the real “Little Mermaid.” MacLaine will play Eloise, an eccentric woman who has intimate knowledge of the story. Molloy and Gutierrez (Walt Before Mickey) are producing via their Tampa-based MVP Studios, which is also prepping a Lou Gehrig biopic.

“We’re thrilled to be launching MVP Studios with A Little Mermaid, a magical adventure that uses the beloved fairy tale as its jumping off point, but is an all-new story with all-new characters that the entire family can enjoy,” the producers said in a statement.