Universal studios has finally set a release date for Jurassic World 3D: the film will hit theaters in June 12, 2015.

The film which was previously called Jurassic Park 4, is being produced by Steven Spielberg. The big-budget sequel will be directed by Colin Trevorrow who will be working off of a draft of the screenplay he co-wrote with Derek Connolly. Trevorrow will working with Rick Jaffa and Amanda Silver, both of whom penned the Rise of the Planet of the Apes, on the script of Jurassic World.

Trevorrow is best known for his 2012 indie film Safety Not Guaranteed which starred Mark Duplass, Aubrey Plaza, Jake Johnson, and Karan Soni. This will be his first big-budget undertaking. Joe Johnston (Captain America) directed the third instalment of the Jurassic Park franchise (Jurassic Park III) in 2001.

Jurassic Park 4 had been put on the back burner, in development mode, for over a decade.

Earlier this year, the rumored synopsis -- made available by a "trusted and reliable source" -- was released:

"JURASSIC PARK 4, set in present day Isla Nublar, is now an actual theme park, as originally intended by John Hammond in the first film. It garners 10 million visitors per year and is completely safe - until it's not. The park itself is described as very Sea World-esque and includes an area called the Isla Nublar Lagoon. That means underwater dino's for the first time. No indication of what kind, but there's concept art showing one of the aquatic dino's, as part of a show, jumping out of the lagoon and eating a strung up great white shark like it was a fish for a dolphin at sea world.

As part of a show, you ask? That's right, folks, this will feature "tamed" dino's. In fact, our source indicated that the usually menacing Velociraptors (which will finally be muzzled, along with the T-Rex - until they're not) will actually be used to help fight the threat, which begins in the form of a new dinosaur, not seen in any of the previous films (and not disclosed to us) shows to be much smarter than originally thought and is the main cause of havoc breaking out at the park.

So, to sum it all up, JURASSIC PARK 4 will take place back on Isla Nublar with a fully operational dinosaur theme park (I'm sure no expense was spared) that's both prosperous and safe, until a new dinosaur figures out a way to wreak havoc, causing the use of the now tamed Velociraptors (and T-Rex? Unclear) as a means to fighting the threat."

The films are based on Michael Crichton's series of novels about pre-historic beasts being revived by revolutionary gene technology.

Frank Marshall and Pat Crowley are also producing the film.

Here's the trailer of Jurassic Park III: