Eighteen years ago, the bludgeoning death of a drug dealer named Andre "Angel" Melendez shocked New York. His killer was Michael Alig, an Indiana transplant who had become one of the kings of the club scene.

The slaying dominated the tabloids, which replayed the horrific details: Alig knocked Melendez unconscious with a hammer in a fight over an unpaid drug debt. Then Alig and a friend, Robert "Freeze" Riggs, dismembered Melendez's body and threw the remains in the Hudson River.

Months later, in December 1997, Alig and Riggs both pleaded guilty to manslaughter and were each sentenced to 10 to 20 years in prison. Riggs was released in 2010. Alig got out this week, exiting prison on Monday after 17 years behind bars.

Now, the storytellers who immortalized Alig with both a documentary and a feature film are shooting new footage to chronicle the 48-year-old's attempt to re-establish his life.

[Related: New York's 'Club Kid Killer' Michael Alig Released From Prison]

Fenton Bailey and Randy Barbato of World of Wonder Productions ("RuPaul's Drag Race," "Million Dollar Listing") first recounted Alig's story in the 1998 documentary "Party Monster: The Shockumentary." In 2003, the two men co-directed the fictionalized feature film version, "Party Monster," which starred Macaulay Culkin as Alig and Seth Green as his mentor-in-clubbing, James St. James, along with a supporting cast of Chloë Sevigny, Natasha Lyonne, Dylan McDermott, Wilmer Valderrrama, Wilson Cruz, Marilyn Manson, Mia Kirshner, and Daniel Franzese.

World of Wonder has dispatched camera crews to follow Alig as he reintegrates into society. St. James, who also now works for World of Wonder, flew from Los Angeles to NYC to greet Alig upon his release and has been capturing shared moments on Twitter and Instagram. (Alig himself has been tweeting for quite some time now, by speaking with friends who've visited him in prison).

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Just narrowly escaped being re arrested for having my release filmed but we're ok and in our way to nyc! #narrowescape — Michael Alig (@Alig_Aligula) May 5, 2014

Who needs coke when u can get a caffeine jolt from a Starbucks double espresso? #drugfree pic.twitter.com/Di707zRzSz — Michael Alig (@Alig_Aligula) May 5, 2014

Although World of Wonder isn't sure yet what will become of the new footage, the producers tell Yahoo that it will eventually get released in some form.

"It's a story that has interested us, and we think it continues to interest other people too," says Bailey. "Alig's story has reached a kind of fever pitch recently with his release. There's something very archetypal about it. So we thought maybe we should send James and see what that would be like.

"We've decided to capture [this experience]," he adds. "We don't have any solid plans for the material yet. Whether we recut the original documentary, or do it as an online original series, I'm not sure. But I think it is indeed interesting to see someone regroup after 17 years. It's really like a time-capsule experience, isn't it?"

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