Guillermo del Toro also says that before he begins Pacific Rim 2, he will be doing a smaller black-and-white film.
Here is what he told Collider:
Right away, in February/March I should [start on] another very small movie, black and white, really, really bizarre before starting—we start pre-production on Pacific Rim 2 in August, and then I interrupt it briefly to go into the first of next year to do this strange little movie, and then I restart it and go all the way until we start shooting Pacific Rim 2 at the end of 2015 for release in 2017.
Regarding the small project:
It’s a very small cast. I would love to have John Hurt, and there’s an actress that I have in mind that is not well-known but I’ve seen her in a short film. That’s all she’s really done, one feature and one short, but she has an incredibly interesting taste and I’m gonna try her out for the main role.
There’s one great creature in it.
It does [have a title], but I find—I’d rather do the projects and then show them to people than talk about them. I think that it’s going to be a nice thing for people to know which one is it and where it came from when it’s a reality.