Grand Walrus — Graham White, Bob Codman and Fred Copperfeld — are working on a remake of Ultima 5, which they have tentatively entitled Ultima V – Tapestry (although it appears that this was not the project’s first title; it was at one point called The Shattering). Little is known about the remake apart from a handful of screenshots that White has released; you can view these on the newly-created project entry here.

White appears to be estimating a release date of March 2018, evidently hoping to coincide the release of the remake with the 30th anniversary of Ultima 5.