Ericson Core will take the reins on the action thriller reboot.
Alcon co-founders and co-CEOs Broderick Johnson and Andrew Kosove will produce with Michael DeLuca, John Baldecchi, Chris Taylor and Kurt Wimmer, who also wrote the screenplay.
Devesh Chetty, principal at Singapore-based pan-Asian entertainment company RGM Media, and investor John McMurrick, chairman of Marloss Entertainment, will serve as executive producers.
The new version of the 1991 cult classic Point Break [pictured] takes place in the world of international extreme sports as an undercover FBI agent must infiltrate a crime ring.
Principal photography is set to begin at the end of the year. Alcon will release through its output deal with Warner Bros.
Kosove and Johnson secured rights from RGM Media, John McMurrick and Chris Taylor in 2011 and also hold television and gaming rights.