His next project is called "The Happening". It was initially titled "The Green Effect".
No studio wanted to be a part of it initially, but eventually he found someone willing. I am not sure if it is because the script looks bad, or because the movie will be R rated.
"In March 2007, 20th Century Fox, one of the few studios that was reported to be interested in The Green Effect,[3][4] greenlighted Shyamlan's project, now titled The Happening. Shyamalan and Barry Mendel will produce the film, which will be the director's first R-rated project.[1] Later in March, actor Mark Wahlberg, with whom Shyamlan had been negotiating at the same time as his deal with Fox, was cast into the lead role of the $57 million project, with production to begin in August in Philadelphia. The release date for The Happening is set for June 13, 2008, intentionally set for Friday the 13th to suit the thriller.[5]"