Vampires.com is reporting that filming is underway, and has the press release explaining the backstory and how we find Collinwood in the 1970s.
Two centuries later, Barnabas is inadvertently freed from his tomb and emerges into the very changed world of 1972. He returns to Collinwood Manor to find that his once-grand estate has fallen into ruin. The dysfunctional remnants of the Collins family have fared little better, each harboring their own dark secrets. Matriarch Elizabeth Collins Stoddard (Michelle Pfeiffer) has called upon live-in psychiatrist, Dr. Julia Hoffman (Helena Bonham Carter), to help with her family troubles.
Go read the rest and check out the guy they have playing young Barnabas. He has a marked resemblance to Johnny Depp.