Production is set to begin in February 2008 on the story of a 17-year-old girl who moves to a small town in the state of Washington where she gets caught in a supernatural war after she falls for a vampire.
Melissa Rosenberg adapted Stephenie Meyer's hit book. Karen Rosenfelt and Greg Mooradian will produce along with Mark Morgan and his Maverick Films.
'We at Summit are truly excited about the franchise potential of this remarkable Romeo and Juliet story,' Summit's president of production Erik Feig said.
'Of course, you are only as good as your Juliet and Kristen Stewart has that magical combination of being a great actress, deeply appealing, and perfect for the part.'
Feig will oversee the project with Summit senior vice president of production Geoff Shaevitz and creative executive Gillian Bohrer.
Stewart currently stars in Into The Wild and broke through with her performance alongside Jodie Foster in the thriller Panic Room. She is currently shooting Adventureland opposite Ryan Reynolds and Jesse Eisenberg.
Stewart is represented by The Gersh Agency and lawyer Joel McKuin at Colden McKuin & Frankel.
Summit's director of business affairs Karen Barna negotiated the deal.
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