Russell T Davies, who created the original UK series, is attached to the project as an executive producer, Variety reported.
The new version of Queer as Folk will have entirely new characters and a different setting.
The UK version of Queer as Folk focused on the lives of three gay men – Stuart Alan Jones (Aidan Gillen), Vince Tyler (Craig Kelly), and Nathan Maloney (Charlie Hunnam) – living in Manchester.
Red Production Company, which produced the original British version, is also among the executive producers.