On last week’s podcast we reported that M. Night Shyamalan’s new film “Lady in the Water” was set to start its filming schedule fairly soon. According to ComingSoon.net, production has commenced and as a result, we are able to bring you an update on its plotline.

“Lady in the Water,” has a star-studded ensemble cast that will be headlined with Paul Giamatti (Sideways)and Bryce Dallas Howard (The Village). Supporting the two leads will be Freddy Rodriguez (Six Feet Under), Jeffrey Wright (Angels in America), Bob Balaban (A Mighty Wind), Sarita Choudhury (She Hate Me), Mary Beth Hurt (The Family Man) and Cindy Cheung. As we reported, Shyamalan moved his production of this movie from Disney Pictures to Warner Bros. Pictures.

“Lady in the Water,” is a story that Shyamalan created for his children, and after some consideration began developing it for a feature film project. The story is centered around a building manager named Cleveland Heep (Paul Giamatti). He discovers a mysterious young woman (Bryce Dallas Howard) in the apartment complex’s pool and discovers she is actually a sea nymph, [a character from a bedtime story], who is trying to return to her own world. Cleveland and his fellow tenants slowly come to the realization that they are also characters in the fable . Cleveland falls in love with this mystery woman, and, with the other members of the complex, works to protect her from her enemies who try to prevent her from returning home.

Shyamalan has brought several of his “Sixth Sense” crew onboard for this one including producer Sam Mercer and music composer James Newton Howard.

Lady in the Water will be released sometime in 2006.