According to Deadline, Street Dreams is the latest program in the works at Xbox Entertainment Studios. Set in Long Island’s Queensbridge, it "takes a look at music, family and the trials and tribulations of the rap game." It will be written and directed by Jonathan Levine (The Wackness, 50/50). Nas himself is also involved in the writing, as well as the music.
Apparently Xbox also has a comedy series about four ex-pro skaters living together in LA in the works.