Is Will Smith working on a “Fresh Prince of Bel-Air” reboot? Not quite — but TV may see a similar character from the multihyphenate.

Sources confirmed to Variety that Smith’s production company, Overbrook Entertainment, is in the very early stages of developing a comedy in a similar spirit of “Fresh Prince.” While not a straight reboot, the show — about which there are so far only preliminary talks, with no writer attached yet — would focus on a fish-out-of-water character, like Smith’s was as he was thrown in the high-class Bel-Air lifestyle. But the project would be a completely new show, with different characters.

As of late, TV has been aggressively banking on older properties. Showtime is developing a “Twin Peaks” revival with David Lynch, Fox will air new “X-Files” episodes early next year, NBC is reviving “Coach” and Netflix picked up “Full House” for a sequel series.

The popularity of “Fresh Prince,” which ran on NBC from 1990-96, has remained strong since it went off the air. (Universal TV currently owns rights to the original series.) Reruns continues to air in syndication, with Viacom networks BET, Centric and MTV hosting old episodes.

The new comedy will be exec produced by Smith, along with Overbrook partners James Lassiter, Caleeb Pinkett and Jada Pinkett-Smith.

TVLine first reported news that Smith was working on a similar project.