Princess Diaries 3 is officially happening (and it finally has a director)

The Princess Diaries is a touchstone release for an entire generation of Disney fans. The chemistry between stars Anne Hathaway and Julie Andrews, coupled with the charming premise, made it a no brainer for Disney to release a sequel, Royal Engagement, two years later.

That was in 2004, though. A lot has transpired in the careers of both stars, and the world writ large. The rumors of a third Princess Diaries film has been floating around for a long time, and it seemed like it was unlikely it would ever come to fruition. But dreams come true at Disney (once in a while), and the studio has confirmed that Princess Diaries 3 is finally in the works!

Adele Lim will direct Princess Diaries 3

Deadline confirmed the news, in addition to providing some crucial details regarding the creatives involved. Flora Greeson is writing the screenplay for the third installment, and producer duties will be split between Debra Martin Chase and executive producers Naia Cucukov and Melissa Stack.

One of the other executive producers on the film will also be its director: Adele Lim. Lim has worked with Disney in the past, helming the acclaimed animated film Raya and the Last Dragon, but this will be the first time she directs a live-action release for the studio.

Lim, like so many, is an enormous fan of the first two films, and is eager to put her own unique spin on the franchise with her own installment. She said as much in a written statement:

"I’m beyond excited to be a part of bringing the third iteration of this beloved franchise to life. We look forward to celebrating its core tenants of female power.. and mentorship."

Anne Hathaway is also making another belated sequel

Anne Hathaway is returning to play the titular princess. She has been the person who has been asked about the status of the film more than anyone else over the years, and she made it clear that she was available whenever the stars aligned. It sounds like they finally have.

Hathaway is also going back to the sequel well for another one of her beloved films: The Devil Wears Prada. The sequel to the fashion drama is slated to begin filming on November 30.