'Sherlock Holmes 3' release date, plot news: Filming likely to begin this Fall, producer hints working on 'fantastic' storyline for fans

A new installment to the "Sherlock Holmes" movie franchise is currently underway, and new details regarding the film's production have been recently revealed.

Producer Joel Silver recently caught up with Collider to talk about his plans on the upcoming follow-up to the box-office sequel back in 2011. According to Silver, there is a possibility that they will begin filming in the latter part of this year, which might also mean that the third installment will arrive sooner than expected. "It looks like it could happen this fall," the producer said during a press event for another movie. "Downey said he wants to do it. He's gotta launch into another Avengers movie, right after the New Year, so we're trying to get it done. We have a script that we like. Jude [Law] is available and Downey is available, and we're hoping we can get it done. If it works, great. If not, we'll do it another time. But, it looks like it could happen now."

Producer/co-writer Lionel Wigram confirmed to Mirror last year that a new installment is already being conceptualized, stressing that a 'fantastic' storyline must be constructed first before they could move on to the next level. Since the last installment was launched way back 2011, fans will likely have higher expectations given the long wait for another "Sherlock Holmes" film.

"For us, if we're going to do a third Sherlock Holmes, it has to be fantastic, so we have to be really confident that we can give the audience a story that makes them say, 'Wow, this was worth it, this was better than the last two,'" Wigram explained. "So that's what we're trying to do. I think we have a concept that cracks that, that gives the potential for that, so now it's about how do we get the other stuff to make that work?"

Details of the film's new storyline are still under wraps, but actor Jude Law admittedly pitched an interesting idea involving the concept of time travel. Filmmaker Guy Ritchie mentioned how Law often have good ideas and lines which he used in the previous films, but his time travel pitch was just "not the zenith of his ideas."

As of this writing, a premiere date for "Sherlock Holmes 3" is yet to be announced.