Francis Lawrence eyes Will Smith pic

'The City That Sailed' being produced by Smith's Overbrook

Francis Lawrence may be reuniting with his "I Am Legend" star Will Smith for a fantastical drama titled "The City That Sailed" at Twentieth Century Fox.

The director is developing the project, which is being produced by Smith's Overbrook banner, with an eye to direct.

Written by Andrew Niccol, the story follows a New York City street magician whose daughter, because of family circumstances, lives in England. In exploring a lighthouse one day, the girl discovers a room with magic candles and wishes to be reunited with her father, causing the island of Manhattan to break away and drift across the Pond.

The studio picked up the spec in 2006.

No deals are made for either Lawrence or Smith. Lawrence is simultaneously developing "Water for Elephants" at Fox 2000 as well as "The World Without Us," also at Fox. It is unknown which project will go first. Smith has also yet to choose his next project to follow his drama "Seven Pounds."

Lawrence is repped by CAA and 3 Arts Entertainment.