The "Dancing with the Stars" champion continued, "It's tricky but also exciting."
Grey confirmed that the new film will take place in its original setting, the fictional Kellerman's resort in the Catskill Mountains.
"You can count on it being at Kellerman's, returning to Kellerman's," she said.
Grey told the outlet that filming for the movie is set to begin in the spring.
The original film followed Baby, a young woman who spends the summer of 1963 vacationing with her family at Kellerman's. During her time at the resort, Baby falls in love with dance instructor Johnny Castle (the late Patrick Swayze).