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Fresh off "Downton Abbey" season 4 pick-up, the show creator Julian Fellowes has signed up to develop a new drama series for NBC. The British writer will write and produce "The Gilded Age", which is described as a "sweeping epic in the style of 'Downton Abbey'."

Set in New York in the 1880s, it follows the princes of the American Renaissance, and the vast fortunes they made in the era. "This was a vivid time with dizzying, brilliant ascents and calamitous falls, of record-breaking ostentation and savage rivalry; a time when money was king," Fellowes says of the upcoming period drama.

On the partnership, NBC Entertainment president Jennifer Salke gushes, "We at the network are all so thrilled to be working with the immensely talented Julian Fellowes, who is universally admired for his critically and commercially appealing productions." She adds, "Having him on our team represents a major creative coup and everyone is looking forward to his first NBC project in 'The Gilded Age'."

Universal Television executive vice president Bela Bajaria adds, "Having been thoroughly impressed by Julian's wit, eloquence, vast historical knowledge and collaborative nature in my past development experience with him, I'm thrilled to be continuing our relationship at Universal Television. The opportunity to work with him again was a goal of mine at Universal Television and I'm very excited about this potential new series."

Fellowes is still serving as an executive producer for "Downton Abbey", which was recently renewed for a fourth season by ITV1. The new season is expected to air in autumn 2013 in U.K., while the third season will premiere in the U.S. on January 6, 2013 on PBS.