Along with the new iteration of the iconic Melrose and The Vampire Diaries, The Beautiful Life is a new, much-anticipated CW drama project that will debut this fall.

It reportedly beat out the Gossip Girl spinoff (still being considered for midseason 2010) and Privileged for the elusive final spot on the network's prime time roster.

The Beautiful Life will spotlight the lives of male and female models living in N.Y. City - not Canada, where the pilot was filmed and the show was rumored to be set.

The two main players are said to be Christopher, a 22-year-old catalog model, and 15-year-old Reyna, dubbed the "next Heidi Klum." Talk about a bold statement.

The plot is based on real life experiences of Adam Giaudrone, an aspiring model-turned-writer, and is being developed by Ashton Kutcher's Katalyst Film company.

The former anorexic leading lady of The OC, Mischa Barton, returns to TV to star, along with Sara Paxton and Ben Hollingsworth, in this coming of age drama.

Steve Marsi is the Managing Editor of TV Fanatic. Follow him on Google+ or email him here.