A few weeks ago, we reported on speculation that Oscar winning director Martin Scorsese would helm an adaptation of the children’s book “The Invention of Hugo Cabret“. The news was chalked up as a rumor because Scorsese’s schedule has been packed with so many projects, including his long awaited Frank Sinatra biopic. But according to Variety, the speculation was true and the director will take on the story of Cabret for his next project.

The Invention of Hugo Cabret is a highly praised novel written by Brian Selznick that centers on a 12 year old orphan boy who lives within the walls of a train station. It follows his daily journeys as he interacts with several suspicious characters including a bitter old man and a bookish girl. The story will take place in 1930′s Paris, and would mark Scorsese’s first venture into the children’s genre (his acting in Shark Tale doesn’t count).

He’s said to be circling the project, but there are a lot of high profile directors who’re also interested in the film. Some of the competitors include the inventive Spike Jonze and Wes Anderson, who actually sound better equipped from a creative standpoint. The Cabret novel is no small feat to adapt, it’s 533 pages and won the Randolph Caldecott Medal in 2008 for the most distinguished American picture book for children.

Scorsese’s latest flick is the upcoming thriller Shutter Island, so it will be a drastic shift to go from that to Cabret. I think the man is one of the most talented directors of our lifetime, but I’d like to see if he’d be up for the challenge of taking on this type of material.

What do you think of Martin Scorsese directing The Invention of Hugo Cabret? Do you think he can pull off this genre of film?