The new Roswell will be a complete re-imagining of the previous TV series, though once again based on the Roswell High books.
A show about aliens living on Earth with super powers will certainly fit in well on The CW among the numerous fantasy shows like Supernatural and the various Arrowverse series.
Roswell is being rebooted by The CW.
The series was based on a ten book series by Melinda Metz called Roswell High.