This was earlier reported via Wyck Godfrey's interview, but now it's official.
Academy Award® winner Bill Condon will direct both films starring Kristen Stewart, Robert Pattinson and Taylor Lautner along with Billy Burke as Charlie Swan as well as returning members of the Cullen Family including Peter Facinelli as Carlisle, Elizabeth Reaser as Esme, Jackson Rathbone as Jasper, Nikki Reed as Rosalie, Ashley Greene as Alice and Kellan Lutz as Emmett.
The project, based on the fourth novel in author Stephenie Meyer’s Twilight series, is currently being written by Melissa Rosenberg with Wyck Godfrey, Karen Rosenfelt and Stephenie Meyer producing.
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Update!
The Twilight Saga: Breaking Dawn has found its home, and for the first time, Twi-Hards can travel down south to catch a glimpse of their favorite vampires. Summit Entertainment announced today what had long been expected: that the final two Twilight films, to be directed by Bill Condon, will shoot in both Baton Rouge, La., and Vancouver. Louisiana’s appealing tax credits have drawn a number of productions to its locales, one bright spot on the state’s struggling economy. As such, Summit will take advantage of such deals, heading first to Louisiana, where the film’s interior locations will be shot. Then once weather has improved in Vancouver, the Breaking Dawn production will move to Canada, sometime in the New Year.
Nicole Sperling of EW