Avalanche Studios, developer of the Just Cause series, is in the process of developing a new next-gen IP, according to Eurogamer.
The game is currently aiming for a 2014 release, and is described as a "AAA" title being directed by ex-Mindspark creative lead Roland Lesterlin.
The developer has set up a New York office, headed by former Atari and Activision executive David Grijins, and will also be working on both handhelds and PC.
"While most developers and publishers are focused on expanding (or contracting) their operations in over-crowded industry centres such as Los Angeles, San Francisco or Seattle, New York provides us with a diverse talent pool from which to create our next big console title," explained Avalanche Studios founder Christofer Sundberg.
The studio is currently working on the twin-stick shooter Renegade Ops for XBLA, PSN, and PC.
The studio has previously stated it has interest in developing a new game for the Just Cause series, however isn't "in control" of the IP.