With Kurt Wimmer's screenplay and Ericson Core, the cinematographer behind the similarly themed Fast & the Furious, the remake's producers are still rounding out the cast.
Reeves character, former Ohio State quarterback Johnny Utah, has yet to be cast.
The 49-year-old actor said back in December that he would "absolutely not" participate in a remake, but he did offer the filmmakers his reserved blessing.
"If they can find a way to do it that works out good, then God bless them," Reeves said. "[It] sounds very exciting - but is it a good thing? I don't know."
"This is the thing -- surfing is a part of it, but I will tell you that we believe firmly, in terms of remaking a film like this, we've got to make it fresh," Kosove said. "[The remake] has got elements of the original and it's not just surfing, it's other kinds of extreme sports, but surfing is very, very prominent in the story."
Aaron Carter is still in love with Hilary Duff
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