Rob Lowe Shares Update on the Long-Awaited St. Elmo’s Fire Sequel — and Why It’s ‘Super Valid’ to Do Now (Exclusive)

Rob Lowe says St. Elmo’s Fire 2 is well worth the wait.

In an exclusive interview with PEOPLE, the actor, 61, teases the long-awaited sequel to the 1985 film, which follows a group of recent graduates and their adjustment to post-college life.

“We’re working on the script, and it’s really getting good,” teases Lowe, who starred as William “Billy” Hicks, a saxophone-playing frat boy, in the movie.

“I think it’s super valid to revisit those characters that continue to mean a lot to people and watch them navigate this chapter of life, because arguably this chapter of life is every bit as interesting and fraught as — ‘What do I do when I get out of college?’ ” continues the star.

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Directed by Joel Schumacher, St. Elmo’s Fire is an essential movie of the “Brat Pack” genre — a nickname given to a group of young actors and actresses who appeared in popular coming-of-age films during the 1980s.

Alongside Lowe, who continues his ongoing partnership with Atkins, Emilio Estevez, Andrew McCarthy, Demi Moore, Judd Nelson, Ally Sheedy, Andie MacDowell and Mare Winningham also star.

Deadline reported that a sequel was in the works in June 2024. The outlet said the project is in early development at Sony Pictures.

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Last year, McCarthy released the documentary Brats, which explores the “Brat Pack” and ’80s-era films such as The Breakfast Club and 16 Candles. (The Deadline report about the St. Elmo’s Fire sequel was released a week later.)

Speaking with PEOPLE at the time. McCarthy said that the idea of putting together a follow-up to St. Elmo’s Fire gets brought up “all the time.”

“I think 30, 20, even 10 years ago, people would probably [have] said no. But now I think, again, as you get older, you kind of look back on these things with a certain affection and there’s nothing to prove to anyone,” he said.