The revival's director, David Cromer, who helmed the award-winning Off-Broadway revival of Our Town, told the New York Times that the production may be part of the 2011-12 season, but nothing is confirmed at this time.
Scott Rudin, who is producing the upcoming revival of Death of a Salesman, is also attached to the Sweet Bird revival. Academy Award winner Nicole Kidman had previously been announced to portray Princess Kosmonopolis in Sweet Bird.
Williams' Sweet Bird of Youth debuted in 1959 at the Martin Beck Theatre with Paul Newman as Chance Wayne and Geraldine Page as Princess Kosmonopolous. Both stars reprised their performances in the 1962 film.
Sweet Bird of Youth, according to previous production notes, "tells the story of a drifter, Chance Wayne, who returns to his home town with a faded movie star, Princess Kosmonopolis, hoping she will be the source of re-uniting him with his childhood sweetheart, Heavenly Finley. Chance has no idea that his past actions have damaged Heavenly's life or that her Mayor father has sworn out an edict on him."
Franco, who has appeared in "Milk," "Howl" and "Spider-Man," was nominated for an Academy Award for his performance in "127 Hours." He can currently be seen in "Rise of the Planet of the Apes."