The project was originally to be directed by Blade helmer Stephen Norrington, who abruptly pulled out of the venture.
Producer Edward R. Pressman said: "The original Crow was groundbreaking cinema. Its gothic visual and musical ideas influenced a generation and cinema itself.
"With Juan Carlos, we have every confidence that his new Crow will have a similar impact on the contemporary audience."
It was reported in July 2010 that musician and novelist Nick Cave had been hired to rewrite the film.
The 1994 movie starred Bruce Lee's son Brandon, who died on set following a mix-up with bullets.
Alex Proyas, the director of the original, criticised plans for the remake when it was first announced, citing Brandon's tragic death as the sole motivation for finishing the film.
Watch the trailer for the original Crow below: