Robert Townsend has come on board to direct a new version of “Brewster’s Millions,” three decades after the Richard Pryor comedy was released.

The story is based on the 1902 novel by George Barr McCutcheon that was adapted into a play in 1906 and made into films 10 times — including a lost 1914 release directed by Cecil B. DeMille at the start of his career.

The Pryor version co-starred John Candy and was directed by Walter Hill. The Universal release was a solid performer with a $45 million domestic gross.

Producers of the new “Brewster’s Millions” are Joseph and Jack Nasser. The adaptation was written by Michael William Schmidt and follows Monty Brewster, who is set to inherit $1 billion – with one key caveat: He must spend $100 million in one week or end up with nothing more than the clothes on his back.

APA will handle domestic sales of the film.

Townsend’s first feature was 1987’s “Hollywood Shuffle,” which he directed from his own script and starred in. He also directed “Eddie Murphy: Raw,” “The Five Heartbeats” and “Meteor Man.” TV credits include creating and starring in “The Parent ‘Hood,” the “Partners in Crime” specials for HBO and creating and producing the “Townsend Television” series for Fox.

The Nassers are producers on “Final Girl,” starring Abigail Breslin and Alexander Ludwig.

Townsend is repped by APA and Laffmobb Enterprises.