Seems that way. According to Collider that is. Mark Fergus and Hawk Ostby are said to be the screenwriters, and Warner Bothers will be the studio. We can expect to see it in 2011 if their script is approved.
So, will we have another DB: Evolution on our hands? I hope not, even though Akira wasn’t the greatest thing ever. I still have high hopes for the live action movie considering how it is meant for adults, the story is rather simple to emulate in a live action movie and it should appeal to an American audience with little to no change, and it is highly popular among classic anime fans.
For the full story, you can go to the Collider page.