After directing Get Out and Us for Universal, Jordan Peele is set to produce a remake of The People Under the Stairs for the studio, Collider has exclusively learned.

Wes Craven directed the 1991 horror satire, which starred Brandon Adams, Everett McGill, Wendy RobieA.J. Langer and Ving Rhames. The movie celebrates its 29th anniversary this coming Sunday on Nov. 1.

The original film followed a young boy and two adult thieves who become trapped in a house belonging to a strange couple known as the Robesons after breaking in to steal their rare coin collection. They find a lot more than they bargained for waiting for them in the basement.

The People Under the Stairs was hailed as a disturbing and deranged horror satire that offered biting social commentary, and while numerous reviews compared the Robesons to nightmare versions of Ronald and Nancy Reagan, one LA Weekly critic compared them to noted racists Donald Sterling and Donald Trump. The latter Donald proved to be a particularly apt comparison, seeing as the Robesons also keep kids in cages.

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Image via Universal Pictures

Peele will produce the remake alongside Win Rosenfeld via their Monkeypaw Productions banner, and though Peele is not expected to direct the film himself, it remains unclear whether he and/or Rosenfeld will have a hand in writing the script, as they did in co-writing Candyman alongside director Nia DaCosta.

The People Under the Stairs is the first Craven movie to get the remake treatment since the director's death in 2015 -- two months after the Scream TV series debuted on MTV. In fact, Craven was developing a People Under the Stairs TV series for the SyFy Channel prior to his death. That show never moved forward, but it was described as "a contemporary Downton Abbey meets Amityville Horror" that would've followed "a young woman [who] goes missing at the grand Robeson Family Manor” and the “centuries-old horrors that lie deep within the estate.” Expect Peele's company to steer things in a different direction and emphasize the film's social commentary.

Peele has yet to announce his third feature as a director, and the only acting gigs he has announced are voice roles in Henry Selick's animated horror-comedy Wendell and Wild, Evan Marlowe's animated horror movie Abruptio and the fourth season of Netflix's animated comedy Big Mouth, in which Peele voices the Ghost of Duke Ellington.

Peele is one of the executive producers behind HBO's buzzy new series Lovecraft Country along with Misha Green and J.J. Abrams, and he's also an executive producer on the Amazon series Hunters, which is, shall we say, more my cup of tea. Additionally, Peele continues to serve as the narrator and executive producer of The Twilight Zone on CBS All Access. He's represented by CAA, Artists First and attorney Jared Levine.

Watch the original trailer for The People Under the Stairs below, and then click here to watch the chilling black-and-white animated prologue for DaCosta's Candyman.