The story is described as a supernatural urban drama about love, betrayal and need, and is about teens who fall in love. He's the leader of a dangerous street gang; she's the daughter of the detective hired to bring down the gang. There's no mention of what the supernatural angle might be. The project stems from a pitch by writer Kurt Sutter, who is an executive producer on the FX series The Shield, and will soon be working on another FX series Charming, CA. He has also set up scripts for The Unforgettable and In Crime, and based on his IMDB photo he would be a pretty strong contender in a Fabio lookalike contest.
I really liked Schumacher's 80s vamp-fest The Lost Boys, but I can't say I've cared for anything he's done since. The Variety piece mentions that producer di Bonaventura worked with Schumacher on two Batman films, so the notion that not one, but two people behind the franchise-crushingly awful Batman and Robin are making this flick gives me little reason for optimism.