TriStar has tapped Fede Alvarez, best known for directing the horror hit “Don’t Breathe” for Screen Gems, for its new retelling of the 1986 Jim Henson classic “Labyrinth.”

Alvarez will co-write the script with Jay Basu, who is currently penning the next Lisbeth Salander pic “The Girl in the Spider’s Web” that Alvarez is also directing. Sources added that this film will come after “Spider’s Web,” which is much further along in development.

The new “Labyrinth” is a co-production between TriStar Pictures and The Jim Henson Co. Lisa Henson will produce and Nicole Brown will oversee for TriStar.

The original pic followed a 16-year old girl who is given 13 hours to solve a labyrinth and rescue her baby brother after her wish for him to be taken away is granted by the Goblin King, played by the late David Bowie.

Alvarez is repped by WME and manager Stuart Manashil and Basu by UTA, 42’s Josh Varney, Kaplan/Perrone and attorney Peter Nichols. The news was first reported by Deadline Hollywood.