The story, according to The Hollywood Reporter, follows an out-of-place college kid who travels with a girl to Cancun on a break. While there, the girl and her friends are taken hostage by a drug cartel and he is forced to save them.
Variety reports that the hope is to get the project into production by June.
This would be the first project from Taylor and Dan Lautner's recently formed Tailor Made Entertainment, and it would serve to highlight the actor's martial-arts skills. He is also attached to Max Steel at Paramount.
Champnella co-wrote Disney's Mr. 3000 and worked on Warners' DC Comics project Metal Men.