The film is slated for July 2017 release, reported Aceshowbiz.
"There are only so many times you can kill Uncle Ben. I love the idea of making a coming-of-age high school movie. We're really going to see Peter Parker in high school and get deeper into that side of it. He's just 15 now," Watts, 34, said.
The new Spider-Man played by Holland, 19, will be the youngest one who has ever hit the big screen, and Watts is in awe of his parkour skills.
Holland's Spider-Man will make an appearance in upcoming "Captain America: Civil War" scheduled for May, 2016 release.
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