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I think this will happen and it will come out in 2017-ish.

2015 to get the writing staff and write the first few episodes, 2016 for principal photography + effects, air date in 2017. Maybe sooner. 

Then again Netflix turned around Marco Polo pretty quickly and that has a pretty hefty budget too. So who knows. Depends on how quickly they can find a writing staff I guess. 

If they're shooting by this summer it could premiere as quickly as next year.