Simply called Arrow, the adaptation of the DC Comics character is written by Andrew Kreisberg (Fringe, Warehouse 13, The Vampire Diaries) and Marc Guggenheim (FlashForward, Green Lantern), based on a story by Greg Berlanti and Guggenheim, with all three executive producing. Arrow will have no connection to the Smallville incarnation of Green Arrow, played by Justin Hartley. There is one Smallville collaborator involved though, as David Nutter, who directed the Smallville pilot (along with the pilots to Supernatural, Terminator: The Sarah Connor Chronicles and many other series) is expected to direct the Arrow pilot.
In addition, Deadline reveals CW ordered two more pilots today, and one thing all three projects have in common is they are remakes or adaptations of familiar titles. The other two pilots are Sex and the City prequel The Carrie Diaries, and a new version of the 1980s TV series Beauty and the Beast.
Chuck's Josh Schwartz is one of the executive producers on The Carrie Diaries, along with Stephanie Savage and Len Goldstein, which focuses on Carrie Bradshaw as a teenager in the 1980s. Amy Harris (Sex and the City, Gossip Girl) is writing the script.
Beauty and the Beast is a reboot of the Ron Perlman/Linda Hamilton series (whose writing staff included Game of Thrones author George R.R. Martin!). Deadline describes it as "a modern day romantic love story with a procedural twist," written by Jennifer Levin (Without A Trace) and Sherri Cooper (Brothers and Sisters).